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Possible Bullish Inside Day Candle Pattern Detected for Vista Outdoor (NYSE:VSTO)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Vista Outdoor (NYSE:VSTO) based on the price action in the company's shares. Yesterday's price range of $8.61 and $8.79 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 Vista Outdoor may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Vista Outdoor Inc. designs, manufactures, and markets consumer products in the outdoor sports and recreation market. The Company has spun-off Alliant Techsystems Inc. Vista Outdoor operates in the United States.

There is potential upside of 94.3% for shares of Vista Outdoor based on a current price of $8.62 and an average consensus analyst price target of $16.75. The stock should discover initial support at its 200-day moving average (MA) of $7.77 and subsequent support at its 50-day MA of $7.09.

In the past 52 weeks, Vista Outdoor share prices have been bracketed by a low of $4.30 and a high of $13.29 and closed yesterday at $8.62, 100% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 5.0%.

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

Keywords: bullish am inside day candle vista outdoor

Ticker(s): VSTO