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Possible Bearish Inside Day Candle Pattern Detected for Grand Canyon Edu (NASDAQ:LOPE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Grand Canyon Edu (NASDAQ:LOPE) based on the price action in the company's shares. Yesterday's price range of $70.45 and $72.47 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 Grand Canyon Edu may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Grand Canyon Edu has overhead space with shares priced $71.23, or 37.8% below the average consensus analyst price target of $114.50. The stock should find initial resistance at its 50-day moving average (MA) of $79.90 and further resistance at its 200-day MA of $100.15.

Grand Canyon Education, Inc. provides online post secondary education services. The Company offers graduate and undergraduate degree programs in disciplines of education, business, and healthcare.

In the past 52 weeks, shares of Grand Canyon Edu have traded between a low of $57.89 and a high of $132.72 and closed yesterday at $71.23, which is 23% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 3.2%.

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

Keywords: bearish am inside day candle grand canyon edu

Ticker(s): LOPE