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Possible Bearish Inside Day Candle Pattern Detected for Nasdaq Inc (NASDAQ:NDAQ)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nasdaq Inc (NASDAQ:NDAQ) based on the price action in the company's shares. Yesterday's price range of $95.45 and $95.97 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 Nasdaq Inc 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 Nasdaq Inc have traded between a low of $75.49 and a high of $96.84 and closed yesterday at $95.89, which is 27% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Nasdaq, Inc. operates a global stock exchange. The Company provides trading, clearing, exchange technology, regulatory, securities listing, and information services. Nasdaq offers its services worldwide.

Based on a current price of $95.89, Nasdaq Inc is currently 5.5% above its average consensus analyst price target of $90.62. Nasdaq Inc shares have support at the 50-day moving average (MA) of $90.23 and additional support at the 200-day MA of $87.58.

SmarTrend recommended that subscribers consider buying shares of Nasdaq Inc on March 29th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $87.37. Since that recommendation, shares of Nasdaq Inc have risen 10.1%. We continue to monitor NDAQ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle nasdaq inc

Ticker(s): NDAQ