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Possible Bearish Inside Day Candle Pattern Detected for Fiserv Inc (NASDAQ:FISV)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Fiserv Inc (NASDAQ:FISV) based on the price action in the company's shares. Today's price range of $96.25 and $96.35 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 Fiserv Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Fiserv, Inc., together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.

Fiserv Inc (NASDAQ:FISV) is currently priced 22.4% above its average consensus analyst price target of $74.68. The stock should discover initial support at its 50-day moving average (MA) of $89.66 and subsequent support at its 200-day MA of $83.24.

In the past 52 weeks, shares of Fiserv Inc have traded between a low of $68.45 and a high of $96.98 and are now at $96.25, which is 41% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Fiserv Inc on May 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $88.39. Since that recommendation, shares of Fiserv Inc have risen 9.6%. We continue to monitor FISV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle fiserv inc

Ticker(s): FISV