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Possible Bullish Inside Day Candle Pattern Detected for Lkq Corp (NASDAQ:LKQ)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Lkq Corp (NASDAQ:LKQ) based on the price action in the company's shares. Yesterday's price range of $33.04 and $33.30 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 Lkq Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Lkq Corp have traded between a low of $24.44 and a high of $36.63 and closed yesterday at $33.40, which is 37% above that low price. The 200-day and 50-day moving averages have moved 0.16% higher and 0.36% lower over the past week, respectively.

Lkq Corp (NASDAQ:LKQ) has potential upside of 28.1% based on a current price of $33.40 and analysts' consensus price target of $42.77. The stock should find resistance at its 50-day moving average (MA) of $35.15, as well as support at its 200-day MA of $30.19.

LKQ Corporation offers automotive products and services. The Company provides alternative collision replacement parts, recycled engines, and transmissions, as well as remanufactured engines. LKQ offers customers in North America, Central America, and Europe. LKQ offers replacement systems, components, and parts for the repair of automobiles and light, medium, and heavy-duty trucks.

SmarTrend is monitoring the recent change of momentum in Lkq Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Lkq Corp in search of a potential trend change.

Keywords: bullish am inside day candle lkq corp

Ticker(s): LKQ