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Possible Bearish Inside Day Candle Pattern Detected for Evercore Partn-A (NYSE:EVR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Evercore Partn-A (NYSE:EVR) based on the price action in the company's shares. Yesterday's price range of $93.68 and $94.80 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 Evercore Partn-A 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, Evercore Partn-A share prices have been bracketed by a low of $64.37 and a high of $117.49 and closed yesterday at $93.69, 46% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.2%.

Potential upside of 17.1% exists for Evercore Partn-A, based on a current level of $93.69 and analysts' average consensus price target of $109.71. The stock should discover initial support at its 200-day moving average (MA) of $92.74 and subsequent support at its 50-day MA of $91.42.

Evercore Partners Inc. is an investment banking boutique. The Firm provides advisory services to multinational corporations on mergers, acquisitions, divestitures, restructurings and other corporate transactions. Evercore also manages private equity funds for institutional investors.

SmarTrend is tracking the current trend status for Evercore Partn-A and will alert subscribers who have EVR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle evercore partn-a

Ticker(s): EVR