• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Knoll Inc (NYSE:KNL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Knoll Inc (NYSE:KNL) based on the price action in the company's shares. Yesterday's price range of $11.28 and $11.86 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 Knoll Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Knoll, Inc. designs and manufactures branded office furniture products and textiles. The Company primarily sells its products in North America through a direct sales force and a network of independent dealers. Knoll offers a variety of office furniture, including modular workspaces with integrated panels, work surfaces, storage, lighting, seating, desks, casegoods, and tables.

Over the past year, Knoll Inc has traded in a range of $7.74 to $28.30 and closed yesterday at $11.66, 51% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 8.3%.

Knoll Inc has overhead space with shares priced $11.66, or 56.8% below the average consensus analyst price target of $27.00. The stock should run into initial resistance at its 50-day moving average (MA) of $12.24 and subsequent resistance at its 200-day MA of $21.93.

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

Keywords: bearish am inside day candle knoll inc

Ticker(s): KNL