Possible Bullish Inside Day Candle Pattern Detected for Texas Roadhouse (NASDAQ:TXRH)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Texas Roadhouse (NASDAQ:TXRH) based on the price action in the company's shares. Yesterday's price range of $44.58 and $44.92 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 Texas Roadhouse may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Texas Roadhouse, Inc. is a moderately priced, full service restaurant chain.
In the past 52 weeks, Texas Roadhouse share prices have been bracketed by a low of $31.55 and a high of $48.99 and closed yesterday at $44.60, 41% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.3%.
Texas Roadhouse (NASDAQ:TXRH) is currently priced 9.0% above its average consensus analyst price target of $40.59. Texas Roadhouse shares have support at the 50-day moving average (MA) of $42.66 and additional support at the 200-day MA of $37.99.
SmarTrend is tracking the current trend status for Texas Roadhouse and will alert subscribers who have TXRH in their portfolio or watchlist when shares have changed trend direction.
Keywords: bullish am inside day candle Texas Roadhouse