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

By Shiri Gupta

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 $12.34 and $12.52 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.

KBR has overhead space with shares priced $12.47, or 41.5% below the average consensus analyst price target of $21.33. KBR shares should first meet resistance at the 50-day moving average (MA) of $14.75 and find additional resistance at the 200-day MA of $16.37.

In the past 52 weeks, KBR share prices have been bracketed by a low of $11.61 and a high of $20.77 and are now at $12.47, 7% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.2%.

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).

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

Keywords: bullish inside day candle

Ticker(s): KBR