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Possible Bullish Inside Day Candle Pattern Detected for Select Comfort (NASDAQ:SCSS)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Select Comfort (NASDAQ:SCSS) based on the price action in the company's shares. Today's price range of $20.80 and $21.35 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 Select Comfort 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 Select Comfort have traded between a low of $14.28 and a high of $32.36 and are now at $21.29, which is 49% above that low price. The 200-day and 50-day moving averages have moved 0.41% lower and 3.14% higher over the past week, respectively.

Select Comfort Corporation designs, manufactures, and markets a line of air bed mattresses with adjustable firmness, as well as foundations and accessories. The Company's products are sold through retail stores located across the United States and through its national direct marketing operations.

Select Comfort has overhead space with shares priced $21.29, or 23.2% below the average consensus analyst price target of $27.71. The stock should hit resistance at its 200-day moving average (MA) of $21.84, as well as support at its 50-day MA of $19.83.

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

Keywords: bullish inside day candle select comfort

Ticker(s): SCSS