• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Allscripts Healt (NASDAQ:MDRX)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Allscripts Healt (NASDAQ:MDRX) based on the price action in the company's shares. Today's price range of $12.39 and $12.55 is within yesterday'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 Allscripts Healt may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 23.1% exists for Allscripts Healt, based on a current level of $12.39 and analysts' average consensus price target of $15.26. The stock should find resistance at its 200-day moving average (MA) of $13.54, as well as support at its 50-day MA of $12.37.

Allscripts Healthcare Solutions, Inc. develops and markets clinical software. The Company's products include electronic health records, electronic prescribing, revenue cycle management, practice management, document management, medication services, hospital care management, emergency department information systems and homecare automation.

Allscripts Healt share prices have moved between a 52-week high of $16.12 and a 52-week low of $9.80 and are now trading 26% above that low price at $12.39 per share. The 200-day and 50-day moving averages have moved 0.1% lower and 0.21% higher over the past week, respectively.

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

Keywords: bearish inside day candle allscripts healt

Ticker(s): MDRX