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

By Shiri Gupta

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. Yesterday's price range of $25.29 and $26.06 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 Navigant Consult may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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.

There is potential upside of 6.3% for shares of Navigant Consult based on a current price of $25.39 and an average consensus analyst price target of $27.00. The stock should find initial support at its 50-day moving average (MA) of $22.66 and further support at its 200-day MA of $22.43.

Over the past year, Navigant Consult has traded in a range of $18.14 to $26.10 and closed yesterday at $25.39, 40% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.5%.

SmarTrend recommended that subscribers consider buying shares of Navigant Consult on November 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.37. Since that recommendation, shares of Navigant Consult have risen 11.6%. We continue to monitor NCI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle navigant consult

Ticker(s): NCI