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Possible Bullish Inside Day Candle Pattern Detected for Kirby Corp (NYSE:KEX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Kirby Corp (NYSE:KEX) based on the price action in the company's shares. Yesterday's price range of $81.25 and $82.32 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 Kirby Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Kirby Corp (NYSE:KEX) has potential upside of 6.7% based on a current price of $82.32 and analysts' consensus price target of $87.80. The stock should discover initial support at its 50-day moving average (MA) of $79.50 and subsequent support at its 200-day MA of $76.64.

In the past 52 weeks, shares of Kirby Corp have traded between a low of $60.63 and a high of $94.05 and closed yesterday at $82.32, which is 36% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

Kirby Corporation operates a fleet of inland tank barges. The Company transports industrial chemicals, refined petroleum products, black oil products, and agricultural chemicals. Kirby also overhauls and services diesel engines employed in marine, power generation, and rail applications.

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

Keywords: bullish am inside day candle kirby corp

Ticker(s): KEX