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Possible Bullish Inside Day Candle Pattern Detected for Kohl's (NYSE:KSS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Kohl's (NYSE:KSS) based on the price action in the company's shares. Yesterday's price range of $44.69 and $45.44 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 Kohl's may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 19.1% exists for Kohl's, based on a current level of $45.02 and analysts' average consensus price target of $53.60. The stock should run into initial resistance at its 50-day moving average (MA) of $45.91 and subsequent resistance at its 200-day MA of $48.21.

Kohl's Corporation operates a chain of family-oriented department stores. The Company's stores feature apparel, footwear and accessories for women, men and children, soft home products such as sheets and pillows, and housewares targeted to middle income customers. Kohl's also offers online shopping as well as offers store credit cards.

In the past 52 weeks, Kohl's share prices have been bracketed by a low of $33.87 and a high of $75.24 and closed yesterday at $45.02, 33% above that low price. The 200-day and 50-day moving averages have moved 0.8% lower and 0.29% lower over the past week, respectively.

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

Keywords: bullish am inside day candle kohl's

Ticker(s): KSS