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Possible Bearish Inside Day Candle Pattern Detected for Fti Consulting (NYSE:FCN)

By Shiri Gupta

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 $115.42 and $116.82 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.

FTI Consulting, Inc. provides corporate finance and restructuring, economic, forensic and litigation, strategic communications, and technology consulting services. The Company offers restructuring, bankruptcy and performance improvement, antitrust, business valuation and intellectual property, forensic accounting, corporate communications, and computer forensics services.

Fti Consulting (NYSE:FCN) is currently priced 53.9% above its average consensus analyst price target of $53.50. The stock should discover initial support at its 50-day moving average (MA) of $110.25 and subsequent support at its 200-day MA of $98.16.

Fti Consulting share prices have moved between a 52-week high of $118.23 and a 52-week low of $65.47 and closed yesterday at 77% above that low price at $115.94 per share. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Fti Consulting on December 31st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.52. Since that recommendation, shares of Fti Consulting have risen 78.7%. 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

Ticker(s): FCN