Possible Bullish Inside Day Candle Pattern Detected for Sears Holdings (NASDAQ:SHLD)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Sears Holdings (NASDAQ:SHLD) based on the price action in the company's shares. Yesterday's price range of $12.58 and $13.07 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 Sears Holdings may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
In the past 52 weeks, shares of Sears Holdings have traded between a low of $10.52 and a high of $40.75 and closed yesterday at $12.97, which is 23% above that low price. The 200-day and 50-day moving averages have moved 0.68% lower and 0.94% lower over the past week, respectively.
Sears Holdings Corporation is a broadline retailer with full-line and specialty retail stores in the United States and Canada. The Company retails home appliances, as well as tools, lawn and garden products, home electronics, and other products. Sears Holdings also provides automotive repair and maintenance.
Sears Holdings (NASDAQ:SHLD) is currently priced 15.2% above its average consensus analyst price target of $11.00. Sears Holdings shares should first meet resistance at the 50-day moving average (MA) of $16.29 and find additional resistance at the 200-day MA of $20.46.
SmarTrend is tracking the current trend status for Sears Holdings and will alert subscribers who have SHLD in their portfolio or watchlist when shares have changed trend direction.
Keywords: bullish am inside day candle sears holdings