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Possible Bullish Inside Day Candle Pattern Detected for Liquidity Servic (NASDAQ:LQDT)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Liquidity Servic (NASDAQ:LQDT) based on the price action in the company's shares. Yesterday's price range of $6.19 and $6.34 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 Liquidity Servic may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Liquidity Servic has traded in a range of $4.35 to $8.00 and closed yesterday at $6.32, 45% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

Liquidity Services, Inc. operates an online auction marketplace for wholesale, surplus, and salvage assets. The Company offers products by industry, such as consumer electronics, general merchandise, apparel, scientific equipment, and aerospace parts and equipment. Liquidity Services conducts business in Washington DC.

Liquidity Servic has overhead space with shares priced $6.32, or 21.0% below the average consensus analyst price target of $8.00. The stock should find resistance at its 200-day moving average (MA) of $6.44, as well as support at its 50-day MA of $6.06.

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

Keywords: bullish am inside day candle liquidity servic

Ticker(s): LQDT