• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Delek Us Holding (NYSE:DK)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Delek Us Holding (NYSE:DK) based on the price action in the company's shares. Yesterday's price range of $33.44 and $34.17 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 Delek Us Holding may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 60.3% exists for Delek Us Holding, based on a current level of $34.17 and analysts' average consensus price target of $54.77. The stock should run into initial resistance at its 50-day moving average (MA) of $36.85 and subsequent resistance at its 200-day MA of $38.60.

In the past 52 weeks, Delek Us Holding share prices have been bracketed by a low of $29.51 and a high of $61.57 and closed yesterday at $34.17, 16% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 0.3%.

Delek US Holdings, Inc. a diversified energy focused on petroleum refining and supply and on retail marketing. The Company markets gasoline, diesel and other refined petroleum products and convenience merchandise through a network of company-operated retail fuel and convenience stores. Delek also has a wholesale fuel distribution operation.

SmarTrend is tracking the current trend status for Delek Us Holding and will alert subscribers who have DK in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle delek us holding

Ticker(s): DK