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

By Shiri Gupta

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 $79.43 and $80.69 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 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.

In the past 52 weeks, shares of Kirby Corp have traded between a low of $60.63 and a high of $91.85 and closed yesterday at $80.53, which is 33% 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 0.4%.

Potential upside of 9.0% exists for Kirby Corp, based on a current level of $80.53 and analysts' average consensus price target of $87.80. The stock should discover initial support at its 50-day moving average (MA) of $80.52 and subsequent support at its 200-day MA of $76.30.

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

Keywords: bullish am inside day candle kirby corp

Ticker(s): KEX