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Possible Bearish Inside Day Candle Pattern Detected for Fireeye Inc (NASDAQ:FEYE)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Fireeye Inc (NASDAQ:FEYE) based on the price action in the company's shares. Today's price range of $13.19 and $13.32 is within yesterday'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 Fireeye Inc 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, Fireeye Inc share prices have been bracketed by a low of $12.66 and a high of $20.61 and are now at $13.29, 5% above that low price. The 200-day and 50-day moving averages have moved 0.39% lower and 0.53% lower over the past week, respectively.

FireEye, Inc. provides malware protection systems and network threat prevention solutions. The Company offers web, email, and file security, as well as malware analysis. FireEye serves customers throughout the United States.

Potential upside of 45.8% exists for Fireeye Inc, based on a current level of $13.29 and analysts' average consensus price target of $19.38. The stock should find initial resistance at its 50-day moving average (MA) of $14.73 and further resistance at its 200-day MA of $16.37.

SmarTrend is monitoring the recent change of momentum in Fireeye Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Fireeye Inc in search of a potential trend change.

Keywords: bearish inside day candle fireeye inc

Ticker(s): FEYE