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Possible Bearish Inside Day Candle Pattern Detected for Aecom (NYSE:ACM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Aecom (NYSE:ACM) based on the price action in the company's shares. Yesterday's price range of $37.84 and $38.22 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 Aecom may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 6.3% for shares of Aecom based on a current price of $38.00 and an average consensus analyst price target of $40.38. The stock should find initial support at its 50-day moving average (MA) of $35.50 and further support at its 200-day MA of $32.13.

AECOM, together with its subsidiaries, engages in designing, building, financing, and operating infrastructure assets worldwide. It operates through four segments: Design and Consulting Services (DCS), Construction Services (CS), Management Services (MS), and AECOM Capital (ACAP).

Over the past year, Aecom has traded in a range of $24.83 to $38.33 and closed yesterday at $38.00, 53% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Aecom. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Aecom in search of a potential trend change.

Keywords: bearish am inside day candle aecom

Ticker(s): ACM