• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Cubic Corp (NYSE:CUB)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cubic Corp (NYSE:CUB) based on the price action in the company's shares. Yesterday's price range of $36.30 and $37.37 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 Cubic Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cubic Corp has overhead space with shares priced $37.07, or 48.8% below the average consensus analyst price target of $72.33. The stock should run into initial resistance at its 50-day moving average (MA) of $40.47 and subsequent resistance at its 200-day MA of $60.65.

In the past 52 weeks, shares of Cubic Corp have traded between a low of $30.86 and a high of $75.20 and closed yesterday at $37.07, which is 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.8% while the 200-day MA has slid 0.7%.

Cubic Corporation, through its defense group, provides instrumented air and ground combat training systems, battle command training, and simulation support for military forces. The Company also produces avionics, data links, and communications products. Cubic's transportation group provides intermodal ticketing systems for public transit projects worldwide.

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

Keywords: bearish am inside day candle cubic corp

Ticker(s): CUB