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Possible Bearish Inside Day Candle Pattern Detected for Navigant Consult (NYSE:NCI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Navigant Consult (NYSE:NCI) based on the price action in the company's shares. Today's price range of $20.11 and $20.11 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 Navigant Consult 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 Navigant Consult have traded between a low of $18.66 and a high of $27.40 and are now at $20.11, which is 8% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.1%.

Navigant Consulting, Inc. is a specialized independent consulting firm providing litigation, financial, restructuring, energy and operational consulting services to government agencies, legal counsel and large companies facing the challenges of uncertainty, risk, distress and significant change.

Navigant Consult has overhead space with shares priced $20.11, or 25.5% below the average consensus analyst price target of $27.00. The stock should run into initial resistance at its 200-day moving average (MA) of $23.46 and subsequent resistance at its 50-day MA of $24.21.

SmarTrend recommended that its subscribers protect gains by selling shares of Navigant Consult on February 26th, 2019 by issuing a Downtrend alert when the shares were trading at $23.61. Since that call, shares of Navigant Consult have fallen 14.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle navigant consult

Ticker(s): NCI