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Possible Bullish Inside Day Candle Pattern Detected for Vivint Solar Inc (NYSE:VSLR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Vivint Solar Inc (NYSE:VSLR) based on the price action in the company's shares. Yesterday's price range of $3.40 and $3.72 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 Vivint Solar 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.

Vivint Solar Inc. provides renewable energy. The Company offers designing, installing, and maintaining affordable solar solutions in the United States.

Vivint Solar Inc share prices have moved between a 52-week high of $12.99 and a 52-week low of $3.17 and closed yesterday at 17% above that low price at $3.70 per share. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 3%.

There is potential upside of 39.6% for shares of Vivint Solar Inc based on a current price of $3.70 and an average consensus analyst price target of $5.17. The stock should run into initial resistance at its 200-day moving average (MA) of $7.87 and subsequent resistance at its 50-day MA of $9.15.

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

Keywords: bullish am inside day candle vivint solar inc

Ticker(s): VSLR