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Possible Bearish Inside Day Candle Pattern Detected for Msci Inc (NYSE:MSCI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Msci Inc (NYSE:MSCI) based on the price action in the company's shares. Yesterday's price range of $191.17 and $195.28 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 Msci Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Msci Inc (NYSE:MSCI) defies analysts with a current price ($191.86) 20.7% above its average consensus price target of $152.17. The stock should discover initial support at its 50-day moving average (MA) of $175.07 and subsequent support at its 200-day MA of $166.02.

Msci Inc share prices have moved between a 52-week high of $195.99 and a 52-week low of $134.28 and closed yesterday at 43% above that low price at $191.86 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.6% while the 200-day MA has risen 0.4%.

MSCI Inc. provides investment decision support tools to investment institutions worldwide. The Company produces indices and risk and return portfolio analytics for use in managing investment portfolios.

SmarTrend recommended that subscribers consider buying shares of Msci Inc on December 28th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $145.98. Since that recommendation, shares of Msci Inc have risen 31.4%. We continue to monitor MSCI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle msci inc

Ticker(s): MSCI