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Possible Bearish Inside Day Candle Pattern Detected for Bottomline Tech (NASDAQ:EPAY)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Bottomline Tech (NASDAQ:EPAY) based on the price action in the company's shares. Today's price range of $49.37 and $49.37 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 Bottomline Tech may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Bottomline Tech (NASDAQ:EPAY) is currently priced 11.2% above its average consensus analyst price target of $43.86. The stock should find resistance at its 200-day moving average (MA) of $55.40, as well as support at its 50-day MA of $48.06.

Bottomline Technologies (de), Inc. provides collaborative payment, invoice and document automation solutions to corporations, financial institutions and banks around the world. The Company's solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents.

Bottomline Tech share prices have moved between a 52-week high of $74.05 and a 52-week low of $34.92 and are now trading 41% above that low price at $49.37 per share. The 200-day and 50-day moving averages have moved 0.06% higher and 0.25% higher over the past week, respectively.

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

Keywords: bearish inside day candle bottomline tech

Ticker(s): EPAY