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Possible Bearish Inside Day Candle Pattern Detected for Jack Henry (NASDAQ:JKHY)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Jack Henry (NASDAQ:JKHY) based on the price action in the company's shares. Today's price range of $129.96 and $130.63 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 Jack Henry may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Jack Henry (NASDAQ:JKHY) defies analysts with a current price ($130.52) 9.3% above its average consensus price target of $118.43. Jack Henry shares have support at the 50-day moving average (MA) of $122.86 and additional support at the 200-day MA of $116.53.

In the past 52 weeks, Jack Henry share prices have been bracketed by a low of $79.00 and a high of $131.30 and are now at $130.52, 65% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.6%.

Jack Henry & Associates, Inc. develops, markets, and installs integrated computer systems for in-house and service bureau data processing to banks and other financial institutions. Jack Henry also performs data conversion and software installation and customization for the implementation of its systems along with continuing customer maintenance.

SmarTrend recommended that subscribers consider buying shares of Jack Henry on May 11th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $123.54. Since that recommendation, shares of Jack Henry have risen 6.1%. We continue to monitor JKHY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle jack henry

Ticker(s): JKHY