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

By Nick Russo

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 $57.12 and $57.43 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.

In the past 52 weeks, shares of Cerner Corp have traded between a low of $48.78 and a high of $67.57 and closed yesterday at $57.14, which is 17% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

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.

Potential upside of 12.9% exists for Cerner Corp, based on a current level of $57.14 and analysts' average consensus price target of $64.53. The stock should find resistance at its 200-day moving average (MA) of $59.37, as well as support at its 50-day MA of $55.32.

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