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

By David Diaz

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. Today's price range of $37.72 and $38.48 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 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.

There is potential upside of 11.8% for shares of Kohl's based on a current price of $38.41 and an average consensus analyst price target of $42.95. Kohl's shares should first meet resistance at the 50-day moving average (MA) of $45.91 and find additional resistance at the 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 are now at $38.41, 13% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Kohl's on December 19th, 2016 by issuing a Downtrend alert when the shares were trading at $51.96. Since that call, shares of Kohl's have fallen 27.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle kohl's

Ticker(s): KSS