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Possible Bearish Inside Day Candle Pattern Detected for Pra Group Inc (NASDAQ:PRAA)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Pra Group Inc (NASDAQ:PRAA) based on the price action in the company's shares. Yesterday's price range of $32.16 and $33.86 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 Pra Group Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Pra Group Inc share prices have moved between a 52-week high of $39.58 and a 52-week low of $19.40 and closed yesterday at 63% above that low price at $31.70 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has remained constant.

Pra Group Inc has overhead space with shares priced $31.70, or 27.4% below the average consensus analyst price target of $43.67. The stock should hit resistance at its 200-day moving average (MA) of $33.35, as well as support at its 50-day MA of $28.50.

PRA Group, Inc. provides outsourced receivables management. The Company purchases, collects, and manages portfolios of defaulted consumer receivables.

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

Keywords: bearish am inside day candle pra group inc

Ticker(s): PRAA