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Possible Bearish Inside Day Candle Pattern Detected for Aaron'S Inc (:AAN)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Aaron'S Inc (:AAN) based on the price action in the company's shares. Yesterday's price range of $30.27 and $32.14 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. Owners of Aaron'S Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Aaron'S Inc has overhead space with shares priced $31.91, or 40.6% below the average consensus analyst price target of $53.72. The stock should hit resistance at its 200-day moving average (MA) of $53.44, as well as support at its 50-day MA of $27.93.

Aaron's, Inc. rents and sells office and residential furniture and accessories, consumer electronics, and household appliances. The Company also manufactures furniture, bedding, and accessories. Aaron's has Company-owned and franchised centers in the United States.

Over the past year, Aaron'S Inc has traded in a range of $13.01 to $78.65 and closed yesterday at $31.91, 145% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 7.4% while the 200-day MA has slid 1.2%.

SmarTrend is tracking the current trend status for Aaron'S Inc and will alert subscribers who have AAN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle :aan aaron's inc

Ticker(s): AAN