• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Lazard (NYSE:LAZ)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lazard (NYSE:LAZ) based on the price action in the company's shares. Today's price range of $43.52 and $44.04 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 Lazard may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Lazard share prices have moved between a 52-week high of $59.82 and a 52-week low of $26.21 and are now trading 66% above that low price at $43.59 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has advanced 0.5%.

Lazard Ltd provides domestic and international financial advisory services and global transaction execution to corporations, partnerships, institutions, governments, and individuals. The Company's services include mergers and acquisitions, capital markets execution, asset management, and real estate investment banking.

There is potential upside of 10.1% for shares of Lazard based on a current price of $43.59 and an average consensus analyst price target of $48.00. The stock should discover initial support at its 200-day moving average (MA) of $42.79 and subsequent support at its 50-day MA of $37.31.

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

Keywords: bearish inside day candle lazard

Ticker(s): LAZ