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Possible Bullish Inside Day Candle Pattern Detected for KBR (NYSE:KBR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in KBR (NYSE:KBR) based on the price action in the company's shares. Today's price range of $14.60 and $14.78 is within yesterday'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 KBR 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 KBR have traded between a low of $11.61 and a high of $20.77 and are now at $14.71, which is 27% above that low price. The 200-day and 50-day moving averages have moved 0.4% lower and 1.23% higher over the past week, respectively.

KBR, Inc. is a global engineering, construction, and services company supporting the energy, petrochemicals, government services, and civil infrastructure sectors. The Company offers a wide range of services through two business segments, Energy and Chemicals (E&C) and Government and Infrastructure (G&I).

There is potential upside of 45.0% for shares of KBR based on a current price of $14.71 and an average consensus analyst price target of $21.33. The stock should run into initial resistance at its 50-day moving average (MA) of $14.75 and subsequent resistance at its 200-day MA of $16.37.

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

Keywords: bullish inside day candle

Ticker(s): KBR