• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Conn'S Inc (:CONN)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Conn'S Inc (:CONN) based on the price action in the company's shares. Yesterday's price range of $5.95 and $6.42 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 Conn'S Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Conn'S Inc share prices have moved between a 52-week high of $27.57 and a 52-week low of $2.83 and closed yesterday at 123% above that low price at $6.31 per share. The 200-day and 50-day moving averages have moved 1.23% lower and 2.27% lower over the past week, respectively.

Conn's, Inc. is a specialty retailer of consumer goods and related services. The Company offers various products including furniture, specialty mattresses, home appliances, consumer electronics, and home office products through both brick-and-mortar and online retail stores. Conn's owns and operates stores throughout the United States.

Potential upside of 510.1% exists for Conn'S Inc, based on a current level of $6.31 and analysts' average consensus price target of $38.50. Conn'S Inc shares should encounter resistance at the 200-day moving average (MA) of $14.90 and support at the 50-day MA of $5.10.

SmarTrend recommended that subscribers consider buying shares of Conn'S Inc on April 8th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.57. Since that recommendation, shares of Conn'S Inc have risen 43.1%. We continue to monitor CONN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle :conn conn's inc

Ticker(s): CONN