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Possible Bullish Inside Day Candle Pattern Detected for Knight Transport (NYSE:KNX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Knight Transport (NYSE:KNX) based on the price action in the company's shares. Yesterday's price range of $37.36 and $38.15 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 Knight Transport may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Knight Transport has traded in a range of $27.03 to $40.46 and closed yesterday at $37.73, 40% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

Knight-Swift Transportation Holdings Inc. provides transportation and logistics services. The Company offers dry van, cross border freight transportation, fleet solutions, consulting, brokerage, equipment leasing, temperature controlled transport, and engineering services. Knight-Swift Transportation Holdings serves customers in North America.

Knight Transport has overhead space with shares priced $37.73, or 28.1% below the average consensus analyst price target of $52.47. The stock should find initial support at its 200-day moving average (MA) of $35.68 and further support at its 50-day MA of $33.66.

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

Keywords: bullish am inside day candle knight transport

Ticker(s): KNX