• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Sportsman'S Ware (:SPWH)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Sportsman'S Ware (:SPWH) based on the price action in the company's shares. Yesterday's price range of $7.55 and $7.78 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 Sportsman'S Ware may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Sportsman'S Ware (:SPWH) defies analysts with a current price ($7.77) 24.1% above its average consensus price target of $5.90. Sportsman'S Ware shares have support at the 50-day moving average (MA) of $6.30 and additional support at the 200-day MA of $6.11.

In the past 52 weeks, shares of Sportsman'S Ware have traded between a low of $3.41 and a high of $8.90 and closed yesterday at $7.77, which is 128% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 1.7%.

Sportsman's Warehouse Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, provides sporting goods and equipment, bicycles, footwear, electronics, and apparels. Sportsman's Warehouse Holdings distributes its products throughout the United States.

SmarTrend is tracking the current trend status for Sportsman'S Ware and will alert subscribers who have SPWH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle :spwh sportsman's ware

Ticker(s): SPWH