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Possible Bearish Inside Day Candle Pattern Detected for Marsh & McLennan (NYSE:MMC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Marsh & McLennan (NYSE:MMC) based on the price action in the company's shares. Today's price range of $74.90 and $75.12 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 Marsh & McLennan may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Marsh & McLennan have traded between a low of $50.81 and a high of $75.23 and are now at $75.05, which is 48% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

Marsh & McLennan Companies, Inc. is a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital. Marsh & McLennan offers analysis, advice, and transactional capabilities to clients worldwide

Potential upside of 1.5% exists for Marsh & McLennan, based on a current level of $75.05 and analysts' average consensus price target of $76.19. The stock should discover initial support at its 50-day moving average (MA) of $60.49 and subsequent support at its 200-day MA of $56.32.

SmarTrend recommended that subscribers consider buying shares of Marsh & McLennan on November 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $67.57. Since that recommendation, shares of Marsh & McLennan have risen 11.2%. We continue to monitor MMC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle marsh & mclennan

Ticker(s): MMC