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Possible Bearish Inside Day Candle Pattern Detected for Cerner Corp (NASDAQ:CERN)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cerner Corp (NASDAQ:CERN) based on the price action in the company's shares. Yesterday's price range of $61.22 and $61.74 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 Cerner Corp 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 5.1% exists for Cerner Corp, based on a current level of $61.37 and analysts' average consensus price target of $64.53. The stock should find resistance at its 200-day moving average (MA) of $65.15, as well as support at its 50-day MA of $59.23.

In the past 52 weeks, Cerner Corp share prices have been bracketed by a low of $52.05 and a high of $73.86 and closed yesterday at $61.37, 18% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

Cerner Corporation is a worldwide supplier of healthcare solutions and services. The Company's solutions are designed to optimize clinical and financial outcomes for healthcare organizations ranging from single-doctor practices, to health systems, to entire countries, for the pharmaceutical and medical device industries, and for the healthcare commerce system.

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

Keywords: bearish am inside day candle Cerner Corp

Ticker(s): CERN