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Possible Bearish Inside Day Candle Pattern Detected for Dun & Bradstreet (NYSE:DNB)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dun & Bradstreet (NYSE:DNB) based on the price action in the company's shares. Yesterday's price range of $109.75 and $110.94 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 Dun & Bradstreet may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Dun & Bradstreet (NYSE:DNB) defies analysts with a current price ($110.00) 1.4% above its average consensus price target of $108.50. The stock should find initial support at its 50-day moving average (MA) of $108.50 and further support at its 200-day MA of $108.16.

The Dun & Bradstreet Corporation provides business information and technology solutions. The Company's customers use these solutions in order to reduce credit risk, find profitable business partners, manage business relationships and collect cash and receivables. Dun & Bradstreet's database contains information on public and private companies around the world.

Over the past year, Dun & Bradstreet has traded in a range of $94.29 to $124.59 and closed yesterday at $110.00, 17% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of Dun & Bradstreet on April 17th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $104.27. Since that recommendation, shares of Dun & Bradstreet have risen 5.5%. We continue to monitor DNB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle dun & bradstreet

Ticker(s): DNB