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Possible Bullish Inside Day Candle Pattern Detected for Tile Shop Hldgs (NASDAQ:TTS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Tile Shop Hldgs (NASDAQ:TTS) based on the price action in the company's shares. Yesterday's price range of $6.28 and $6.67 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 Tile Shop Hldgs may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Based on a current price of $6.58, Tile Shop Hldgs is currently 2.5% above its average consensus analyst price target of $6.41. Tile Shop Hldgs shares should first meet resistance at the 50-day moving average (MA) of $7.54 and find additional resistance at the 200-day MA of $7.55.

In the past 52 weeks, shares of Tile Shop Hldgs have traded between a low of $5.15 and a high of $10.50 and closed yesterday at $6.58, which is 28% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.9%.

The Tile Shop Holdings, Inc. is a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States.

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

Keywords: bullish am inside day candle tile shop hldgs

Ticker(s): TTS