• Return to Headlines

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

By Shiri Gupta

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. Today's price range of $26.29 and $26.29 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 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.

In the past 52 weeks, Artisan Partne-A share prices have been bracketed by a low of $20.16 and a high of $35.50 and are now at $26.29, 30% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.4%.

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.

Potential upside of 29.3% exists for Artisan Partne-A, based on a current level of $26.29 and analysts' average consensus price target of $34.00. Artisan Partne-A shares should encounter resistance at the 200-day moving average (MA) of $28.55 and support at the 50-day MA of $24.16.

SmarTrend recommended that subscribers consider buying shares of Artisan Partne-A on January 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.83. Since that recommendation, shares of Artisan Partne-A have risen 15.1%. We continue to monitor APAM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle artisan partne-a

Ticker(s): APAM