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Possible Bearish Inside Day Candle Pattern Detected for Nielsen Holdings (NYSE:NLSN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nielsen Holdings (NYSE:NLSN) based on the price action in the company's shares. Today's price range of $33.60 and $33.92 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 Nielsen Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Nielsen Holdings PLC offers marketing services. The Company provides demand analysis, product development, sales measurement, price and trade promotion strategies, and product launch services. Nielsen Holdings serves customers worldwide.

Nielsen Holdings share prices have moved between a 52-week high of $55.94 and a 52-week low of $31.90 and are now trading 6% above that low price at $33.77 per share. The 200-day and 50-day moving averages have moved 0.25% higher and 0.41% higher over the past week, respectively.

There is potential upside of 23.6% for shares of Nielsen Holdings based on a current price of $33.77 and an average consensus analyst price target of $41.75. Nielsen Holdings shares should first meet resistance at the 200-day moving average (MA) of $47.94 and find additional resistance at the 50-day MA of $51.91.

SmarTrend recommended that its subscribers protect gains by selling shares of Nielsen Holdings on October 25th, 2017 by issuing a Downtrend alert when the shares were trading at $38.29. Since that call, shares of Nielsen Holdings have fallen 11.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle nielsen holdings

Ticker(s): NLSN