• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Trueblue Inc (NYSE:TBI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Trueblue Inc (NYSE:TBI) based on the price action in the company's shares. Yesterday's price range of $14.45 and $14.64 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 Trueblue Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

TrueBlue, Inc. provides temporary manual labor to the light industrial and small business markets. The Company operates dispatch offices in the United States, Puerto Rico, Canada, and the United Kingdom. TrueBlue's customers are primarily in the transportation, warehousing, hospitality, landscaping, construction, light manufacturing, retail, wholesale, and sanitation industries.

Potential upside of 91.9% exists for Trueblue Inc, based on a current level of $14.59 and analysts' average consensus price target of $28.00. The stock should find resistance at its 200-day moving average (MA) of $19.54, as well as support at its 50-day MA of $13.97.

In the past 52 weeks, shares of Trueblue Inc have traded between a low of $12.02 and a high of $25.08 and closed yesterday at $14.59, which is 21% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.9%.

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

Keywords: bullish am inside day candle trueblue inc

Ticker(s): TBI