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Possible Bearish Inside Day Candle Pattern Detected for Euronet Worldwid (NASDAQ:EEFT)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Euronet Worldwid (NASDAQ:EEFT) based on the price action in the company's shares. Yesterday's price range of $156.14 and $157.15 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 Euronet Worldwid may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Euronet Worldwide, Inc. provides electronic financial transaction solutions. The Company offers financial payment middleware, financial network gateways, outsourcing, and consulting services to financial institutions and mobile operators. Euronet has processing centers located in the United States, Europe, and Asia.

Euronet Worldwid share prices have moved between a 52-week high of $158.70 and a 52-week low of $79.52 and closed yesterday at 96% above that low price at $156.14 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 1.0%.

Euronet Worldwid (NASDAQ:EEFT) is currently priced 33.5% above its average consensus analyst price target of $103.80. Euronet Worldwid shares have support at the 50-day moving average (MA) of $146.19 and additional support at the 200-day MA of $119.70.

SmarTrend recommended that subscribers consider buying shares of Euronet Worldwid on January 11th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $104.52. Since that recommendation, shares of Euronet Worldwid have risen 51.5%. We continue to monitor EEFT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle euronet worldwid

Ticker(s): EEFT