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Possible Bearish Inside Day Candle Pattern Detected for Knight Transport (NYSE:KNX)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Knight Transport (NYSE:KNX) based on the price action in the company's shares. Today's price range of $38.04 and $38.67 is within yesterday'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 Knight Transport may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 36.1% for shares of Knight Transport based on a current price of $38.56 and an average consensus analyst price target of $52.47. Knight Transport shares have support at the 200-day moving average (MA) of $35.69 and additional support at the 50-day MA of $33.79.

Knight-Swift Transportation Holdings Inc. provides transportation and logistics services. The Company offers dry van, cross border freight transportation, fleet solutions, consulting, brokerage, equipment leasing, temperature controlled transport, and engineering services. Knight-Swift Transportation Holdings serves customers in North America.

Knight Transport share prices have moved between a 52-week high of $40.46 and a 52-week low of $27.03 and are now trading 43% above that low price at $38.56 per share. The 200-day and 50-day moving averages have moved 0.05% higher and 0.87% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Knight Transport and will alert subscribers who have KNX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle knight transport

Ticker(s): KNX