Online Learning Platform Forming Bullish Flag After Strong Report
Stride (LRN) shares of the small cap education name are coiling in a bull flag near 80 after the big gap higher last month has held firm above the gap and now forming a weekly reversal candle off lows with the market rally this week. LRN closed strong back above its 8-day EMA and into monthly value with a path likely back up to top of its value area at 83. A stronger breakout above that could target the 86.00 fib extension level. Last month after its strong earnings report, LRN was started at Buy at Canaccord as it’s well positioned to benefit from trend toward online learning.