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Possible Bullish Inside Day Candle Pattern Detected for K12 Inc (NYSE:LRN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in K12 Inc (NYSE:LRN) based on the price action in the company's shares. Yesterday's price range of $13.05 and $13.99 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 K12 Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of K12 Inc have traded between a low of $10.17 and a high of $21.18 and closed yesterday at $13.72, which is 35% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has slid 0.3%.

K12 Inc. is a technology-based education company. The Company offers proprietary curriculum, software, and educational services created for online delivery to students in kindergarten through 12th grade, or K-12.

K12 Inc has overhead space with shares priced $13.72, or 36.7% below the average consensus analyst price target of $21.67. The stock should discover initial support at its 200-day moving average (MA) of $10.95 and subsequent support at its 50-day MA of $10.43.

SmarTrend recommended that its subscribers protect gains by selling shares of K12 Inc on February 7th, 2018 by issuing a Downtrend alert when the shares were trading at $15.94. Since that call, shares of K12 Inc have fallen 13.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle k12 inc

Ticker(s): LRN