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Possible Bearish Inside Day Candle Pattern Detected for Manpowergroup In (NYSE:MAN)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Manpowergroup In (NYSE:MAN) based on the price action in the company's shares. Yesterday's price range of $84.92 and $84.92 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 Manpowergroup In may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 45.4% for shares of Manpowergroup In based on a current price of $85.00 and an average consensus analyst price target of $123.56. The stock should find initial support at its 200-day moving average (MA) of $82.27 and further support at its 50-day MA of $79.14.

Manpowergroup In share prices have moved between a 52-week high of $122.70 and a 52-week low of $61.57 and closed yesterday at 38% above that low price at $85.00 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.

ManpowerGroup Inc. provides non-governmental employment services through offices located around the world. The Company's principal operations include temporary staffing services, contract services, and training and testing of temporary, and permanent workers. Manpower provides employment services to a wide variety of customers.

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

Keywords: bearish am inside day candle manpowergroup in

Ticker(s): MAN