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Possible Bearish Inside Day Candle Pattern Detected for Gartner Inc (NYSE:IT)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Gartner Inc (NYSE:IT) based on the price action in the company's shares. Yesterday's price range of $146.66 and $146.66 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 Gartner Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Gartner Inc share prices have moved between a 52-week high of $161.21 and a 52-week low of $114.40 and closed yesterday at 29% above that low price at $147.11 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.9%.

Gartner Inc (NYSE:IT) is currently priced 6.8% above its average consensus analyst price target of $137.11. The stock should find initial support at its 200-day moving average (MA) of $141.77 and further support at its 50-day MA of $138.11.

Gartner, Inc. provides research and analysis on the computer hardware, software, communications, and related information technology industries. The Company's business segments include research, consulting, measurement, events and executive programs.

SmarTrend recommended that subscribers consider buying shares of Gartner Inc on January 23rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $130.57. Since that recommendation, shares of Gartner Inc have risen 12.7%. We continue to monitor IT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle gartner inc

Ticker(s): IT