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Possible Bearish Inside Day Candle Pattern Detected for Cardtronics Pl-A (NASDAQ:CATM)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cardtronics Pl-A (NASDAQ:CATM) based on the price action in the company's shares. Yesterday's price range of $22.50 and $23.74 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 Cardtronics Pl-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Cardtronics Pl-A have traded between a low of $15.71 and a high of $47.41 and closed yesterday at $22.90, which is 46% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 5.9%.

Cardtronics Pl-A (NASDAQ:CATM) has potential upside of 24.5% based on a current price of $22.90 and analysts' consensus price target of $28.50. The stock should run into initial resistance at its 50-day moving average (MA) of $25.67 and subsequent resistance at its 200-day MA of $33.77.

Cardtronics plc operates as a cash machine provider. The Company installs, repairs, maintains, and operates automated teller machines in convenience stores, petrol forecourts, motorway service areas, train stations, food and drink outlets, shopping centers, cinemas, sporting clubs, and leisure outlets in the United Kingdom.

SmarTrend is tracking the current trend status for Cardtronics Pl-A and will alert subscribers who have CATM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle cardtronics pl-a

Ticker(s): CATM