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

By David Diaz

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. Today's price range of $142.66 and $143.35 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 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. 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.

In the past 52 weeks, shares of Gartner Inc have traded between a low of $120.89 and a high of $171.77 and are now at $143.07, which is 18% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.9%.

Gartner Inc (NYSE:IT) defies analysts with a current price ($143.07) 4.2% above its average consensus price target of $137.11. The stock should hit resistance at its 200-day moving average (MA) of $146.01, as well as support at its 50-day MA of $142.14.

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

Keywords: bearish inside day candle gartner inc

Ticker(s): IT