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Possible Bullish Inside Day Candle Pattern Detected for Cap Senior Livin (NYSE:CSU)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cap Senior Livin (NYSE:CSU) based on the price action in the company's shares. Yesterday's price range of $0.75 and $0.82 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. Traders and investors interested in shares of Cap Senior Livin may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Capital Senior Living Corporation develops and operates senior living communities. The Company provides services such as independent living, assisted living, skilled nursing, and home care services to the elderly at its communities. Capital Senior Living serves senior and retired citizens in the State of Texas.

Cap Senior Livin has overhead space with shares priced $0.84, or 94.6% below the average consensus analyst price target of $15.70. The stock should find initial resistance at its 50-day moving average (MA) of $1.23 and further resistance at its 200-day MA of $3.27.

In the past 52 weeks, Cap Senior Livin share prices have been bracketed by a low of $0.45 and a high of $5.64 and closed yesterday at $0.84, 87% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 2% while the 50-day MA has declined 9%.

SmarTrend is tracking the current trend status for Cap Senior Livin and will alert subscribers who have CSU in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle cap senior livin

Ticker(s): CSU