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Possible Bearish Inside Day Candle Pattern Detected for Kosmos Energy Lt (NYSE:KOS)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kosmos Energy Lt (NYSE:KOS) based on the price action in the company's shares. Yesterday's price range of $6.68 and $6.95 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 Kosmos Energy Lt may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Kosmos Energy Ltd. is an oil and gas exploration and production company. The Company's discoveries include hydrocarbon resources offshore along West Africa's Atlantic coast.

Kosmos Energy Lt has overhead space with shares priced $6.84, or 19.5% below the average consensus analyst price target of $8.50. The stock should find initial support at its 50-day moving average (MA) of $6.11 and further support at its 200-day MA of $6.07.

In the past 52 weeks, shares of Kosmos Energy Lt have traded between a low of $3.53 and a high of $7.17 and closed yesterday at $6.84, which is 94% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.4%.

SmarTrend is tracking the current trend status for Kosmos Energy Lt and will alert subscribers who have KOS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle kosmos energy lt

Ticker(s): KOS