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Possible Bullish Inside Day Candle Pattern Detected for Jakks Pacific (NASDAQ:JAKK)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Jakks Pacific (NASDAQ:JAKK) based on the price action in the company's shares. Yesterday's price range of $0.88 and $0.96 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 Jakks Pacific may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

JAKKS Pacific, Inc. develops, manufactures, and markets toys and related products for children. The Company's products includes action figures, die-cast collectible and toy vehicles, preschool toys, and fashion dolls and accessories. JAKKS Pacific serves customers in the United States.

Jakks Pacific has overhead space with shares priced $0.89, or 9.8% below the average consensus analyst price target of $0.99. The stock should find resistance at its 50-day moving average (MA) of $1.00, as well as support at its 200-day MA of $0.87.

In the past 52 weeks, Jakks Pacific share prices have been bracketed by a low of $0.51 and a high of $2.06 and closed yesterday at $0.89, 75% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.3%.

SmarTrend is tracking the current trend status for Jakks Pacific and will alert subscribers who have JAKK in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle jakks pacific

Ticker(s): JAKK