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Possible Bearish Inside Day Candle Pattern Detected for Korn/Ferry Intl (NYSE:KFY)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Korn/Ferry Intl (NYSE:KFY) based on the price action in the company's shares. Yesterday's price range of $47.07 and $47.87 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 Korn/Ferry Intl may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Korn/Ferry Intl (NYSE:KFY) has potential upside of 26.2% based on a current price of $47.13 and analysts' consensus price target of $59.50. Korn/Ferry Intl shares have support at the 200-day moving average (MA) of $46.58 and additional support at the 50-day MA of $46.03.

In the past 52 weeks, Korn/Ferry Intl share prices have been bracketed by a low of $37.38 and a high of $68.98 and closed yesterday at $47.13, 26% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has advanced 0.2%.

Korn Ferry, together with its subsidiaries, provides talent management solutions worldwide. It operates through three segments: Executive Search, Hay Group, and Futurestep. The company provides executive search services to fill executive-level positions, such as board directors, chief executive officers, chief financial officers, chief operating officers, chief information officers, chief human resource officers, and other senior executive officers for clients in the consumer, financial services, industrial, life sciences/healthcare provider, technology, and educational/not-for-profit market sectors.

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

Keywords: bearish am inside day candle korn/ferry intl

Ticker(s): KFY