Possible Bearish Inside Day Candle Pattern Detected for FTI Consulting (NYSE:FCN)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in FTI Consulting (NYSE:FCN) based on the price action in the company's shares. Yesterday's price range of $43.63 and $44.02 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 FTI Consulting may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
Based on a current price of $43.72, FTI Consulting is currently 10.3% above its average consensus analyst price target of $39.20. The stock should find initial support at its 200-day moving average (MA) of $37.29 and further support at its 50-day MA of $35.43.
Over the past year, FTI Consulting has traded in a range of $29.91 to $45.98 and closed yesterday at $43.72, 46% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has remained constant.
FTI Consulting Inc. provides forensic and litigation consulting, corporate finance, economic consulting and technology services. The Company offers services designed to help companies address critical issues and improve performance before encountering disputes or financial difficulties.
SmarTrend recommended that subscribers consider buying shares of FTI Consulting on April 15th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.18. Since that recommendation, shares of FTI Consulting have risen 21.8%. We continue to monitor FCN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: bearish am inside day candle fti consulting