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Possible Bullish Inside Day Candle Pattern Detected for Jack In The Box (NASDAQ:JACK)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Jack In The Box (NASDAQ:JACK) based on the price action in the company's shares. Yesterday's price range of $80.75 and $83.12 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Jack In The Box may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Jack in the Box Inc. operates and franchises restaurants. The Company provides a variety of food items including hamburgers, specialty sandwiches, salads, Mexican food, finger foods, and side items. Jack in the Box offers its products and services throughout the United States and Canada.

Potential upside of 24.4% exists for Jack In The Box, based on a current level of $82.65 and analysts' average consensus price target of $102.83. The stock should find initial resistance at its 50-day moving average (MA) of $87.28 and further resistance at its 200-day MA of $94.41.

Jack In The Box share prices have moved between a 52-week high of $113.30 and a 52-week low of $79.23 and closed yesterday at 4% above that low price at $82.65 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.5%.

SmarTrend is monitoring the recent change of momentum in Jack In The Box. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Jack In The Box in search of a potential trend change.

Keywords: bullish am inside day candle jack in the box

Ticker(s): JACK