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Possible Bearish Inside Day Candle Pattern Detected for Equifax Inc (NYSE:EFX)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Equifax Inc (NYSE:EFX) based on the price action in the company's shares. Yesterday's price range of $152.03 and $152.63 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 Equifax Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Equifax Inc (NYSE:EFX) is currently priced 17.3% above its average consensus analyst price target of $127.38. Equifax Inc shares have support at the 50-day moving average (MA) of $140.50 and additional support at the 200-day MA of $136.09.

Over the past year, Equifax Inc has traded in a range of $95.10 to $153.62 and closed yesterday at $153.94, 62% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.2%.

Equifax Inc. brings buyers and sellers together through its information management, transaction processing, direct marketing, and customer relationship management businesses. The Company serves the financial services, retail, credit card, telecommunications, utilities, transportation, information technology, and healthcare industries and government.

SmarTrend recommended that subscribers consider buying shares of Equifax Inc on November 19th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $141.16. Since that recommendation, shares of Equifax Inc have risen 8.4%. We continue to monitor EFX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle equifax inc

Ticker(s): EFX