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Possible Bearish Inside Day Candle Pattern Detected for Marcus Corp (NYSE:MCS)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Marcus Corp (NYSE:MCS) based on the price action in the company's shares. Yesterday's price range of $12.28 and $12.92 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 Marcus Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Marcus Corp share prices have moved between a 52-week high of $41.81 and a 52-week low of $6.95 and closed yesterday at 80% above that low price at $12.53 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.7% while the 50-day MA has declined 7.1%.

Marcus Corp has overhead space with shares priced $12.53, or 64.5% below the average consensus analyst price target of $35.33. The stock should find initial resistance at its 50-day moving average (MA) of $24.47 and further resistance at its 200-day MA of $31.53.

The Marcus Corporation operates in the lodging and entertainment industries. The Company's movie theater division owns and manages screens at locations in several states, as well as a family entertainment center. Marcus' lodging division owns and manages hotels and resorts in several states, as well as a vacation club.

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

Keywords: bearish am inside day candle marcus corp

Ticker(s): MCS