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Possible Bearish Inside Day Candle Pattern Detected for Artisan Partne-A (NYSE:APAM)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Artisan Partne-A (NYSE:APAM) based on the price action in the company's shares. Yesterday's price range of $29.65 and $29.93 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 Artisan Partne-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Artisan Partne-A share prices have moved between a 52-week high of $30.18 and a 52-week low of $20.16 and closed yesterday at 48% above that low price at $29.81 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.8%.

Artisan Partners Asset Management Inc. operates as an investment management firm. The Company offers portfolio management, financial planning, and investment advisory services. Artisan Partners Asset Management serves customers worldwide.

There is potential upside of 14.1% for shares of Artisan Partne-A based on a current price of $29.81 and an average consensus analyst price target of $34.00. The stock should discover initial support at its 50-day moving average (MA) of $27.54 and subsequent support at its 200-day MA of $26.74.

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

Keywords: bearish am inside day candle artisan partne-a

Ticker(s): APAM