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Possible Bearish Inside Day Candle Pattern Detected for Ca Inc (NASDAQ:CA)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ca Inc (NASDAQ:CA) based on the price action in the company's shares. Today's price range of $43.99 and $44.11 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 Ca Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

CA, Inc. designs, develops, markets, licenses, and supports standardized computer software products. The Company's products are used with mainframe computers and in client/server environments. CA offers various enterprise systems management, information management, and business applications solutions to a variety of organizations.

In the past 52 weeks, Ca Inc share prices have been bracketed by a low of $30.45 and a high of $44.20 and are now at $44.08, 45% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.4%.

Based on a current price of $44.08, Ca Inc is currently 20.6% above its average consensus analyst price target of $35.00. The stock should discover initial support at its 50-day moving average (MA) of $36.01 and subsequent support at its 200-day MA of $34.50.

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

Keywords: bearish inside day candle ca inc

Ticker(s): CA