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Possible Bearish Inside Day Candle Pattern Detected for Aci Worldwide In (NASDAQ:ACIW)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Aci Worldwide In (NASDAQ:ACIW) based on the price action in the company's shares. Yesterday's price range of $31.50 and $31.67 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. Owners of Aci Worldwide In may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Aci Worldwide In (NASDAQ:ACIW) defies analysts with a current price ($31.56) 12.1% above its average consensus price target of $27.75. Aci Worldwide In shares should encounter resistance at the 50-day moving average (MA) of $33.43 and support at its 200-day MA of $29.51.

In the past 52 weeks, shares of Aci Worldwide In have traded between a low of $23.61 and a high of $35.86 and closed yesterday at $31.56, which is 34% above that low price. The 200-day and 50-day moving averages have moved 0.32% higher and 0.27% lower over the past week, respectively.

ACI Worldwide, Inc. develops, markets, and supports software products for the global electronics funds transfer market. The Company's products are used to process transactions involving credit cards, debit cards, smart cards, home banking services, checks, and automated clearing and settlement.

SmarTrend is tracking the current trend status for Aci Worldwide In and will alert subscribers who have ACIW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle aci worldwide in

Ticker(s): ACIW