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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 $19.04 and $19.30 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.

K12 Inc share prices have moved between a 52-week high of $37.43 and a 52-week low of $18.90 and closed yesterday at 2% above that low price at $19.22 per share. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 3.7%.

There is potential upside of 11.0% for shares of K12 Inc based on a current price of $19.22 and an average consensus analyst price target of $21.33. The stock should find initial resistance at its 50-day moving average (MA) of $22.13 and further resistance at its 200-day MA of $28.81.

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.

SmarTrend recommended that its subscribers protect gains by selling shares of K12 Inc on April 24th, 2019 by issuing a Downtrend alert when the shares were trading at $32.96. Since that call, shares of K12 Inc have fallen 41.7%. 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