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Possible Bullish Inside Day Candle Pattern Detected for Strayer Educatio (NASDAQ:STRA)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Strayer Educatio (NASDAQ:STRA) based on the price action in the company's shares. Yesterday's price range of $108.59 and $109.40 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 Strayer Educatio may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Strayer Education, Inc. is the holding company of Strayer University, an institution of higher learning. The University offers working adults undergraduate and graduate degree programs in business administration, accounting, information technology, education, and public administration. Strayer offers courses in the eastern United States and through the internet.

There is potential upside of 10.9% for shares of Strayer Educatio based on a current price of $109.40 and an average consensus analyst price target of $121.33. Strayer Educatio shares should first meet resistance at the 50-day moving average (MA) of $117.80 and find additional resistance at the 200-day MA of $120.74.

Over the past year, Strayer Educatio has traded in a range of $80.75 to $154.89 and closed yesterday at $109.40, 35% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.1% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Strayer Educatio on December 6th, 2018 by issuing a Downtrend alert when the shares were trading at $126.45. Since that call, shares of Strayer Educatio have fallen 14.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle strayer educatio

Ticker(s): STRA