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Possible Bearish Inside Day Candle Pattern Detected for NeuStar (NYSE:NSR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in NeuStar (NYSE:NSR) based on the price action in the company's shares. Today's price range of $33.35 and $33.40 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 NeuStar may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 0.4% for shares of NeuStar based on a current price of $33.38 and an average consensus analyst price target of $33.50. The stock should discover initial support at its 200-day moving average (MA) of $25.66 and subsequent support at its 50-day MA of $25.22.

NeuStar, Inc. provides the North American communications industry with clearinghouse services. The Company operates the authoritative directories that manage telephone area codes and numbers, and enable the routing of calls of competing communications service providers, or CSPs, in the United States and Canada.

In the past 52 weeks, shares of NeuStar have traded between a low of $20.00 and a high of $34.40 and are now at $33.38, which is 67% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of NeuStar on November 16th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.48. Since that recommendation, shares of NeuStar have risen 36.7%. We continue to monitor NSR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle neustar

Ticker(s): NSR