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Possible Bullish Inside Day Candle Pattern Detected for Kratos Defense & (NASDAQ:KTOS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Kratos Defense & (NASDAQ:KTOS) based on the price action in the company's shares. Yesterday's price range of $17.21 and $17.48 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 Kratos Defense & may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Based on a current price of $17.34, Kratos Defense & is currently 20.3% above its average consensus analyst price target of $13.81. Kratos Defense & shares should first meet resistance at the 50-day moving average (MA) of $18.69 and find additional resistance at the 200-day MA of $19.15.

Kratos Defense & share prices have moved between a 52-week high of $25.08 and a 52-week low of $12.31 and closed yesterday at 41% above that low price at $17.34 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.5%.

Kratos Defense & Security Solutions, Inc. operates as a defense contractor and security systems integrator for the federal government and for state and local agencies. The Company offers services in weapon systems lifecycle support, military weapon range, security and surveillance systems, and IT engineering.

SmarTrend is tracking the current trend status for Kratos Defense & and will alert subscribers who have KTOS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle kratos defense &

Ticker(s): KTOS