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Possible Bearish Inside Day Candle Pattern Detected for Natural Grocers (NYSE:NGVC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Natural Grocers (NYSE:NGVC) based on the price action in the company's shares. Yesterday's price range of $14.00 and $15.12 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 Natural Grocers may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Natural Grocers (NYSE:NGVC) is currently priced 38.4% above its average consensus analyst price target of $8.94. Natural Grocers shares have support at the 200-day moving average (MA) of $9.34 and additional support at the 50-day MA of $8.92.

Natural Grocers by Vitamin Cottage Inc through its subsidiary operates in the food industry. The Company provides healthy foods, vitamins, and supplements including allergy, aloe products, amino acids, antioxidants, animal products, beverages, medical, cleansing and clearance, weight loss, electrolytes, energy, cosmetics, natural, minerals, vitamins, pain relief, and supplements.

In the past 52 weeks, shares of Natural Grocers have traded between a low of $5.41 and a high of $16.39 and closed yesterday at $14.50, which is 168% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 4.5%.

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

Keywords: bearish am inside day candle natural grocers

Ticker(s): NGVC