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Possible Bearish Inside Day Candle Pattern Detected for Nuance Communica (NASDAQ:NUAN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nuance Communica (NASDAQ:NUAN) based on the price action in the company's shares. Today's price range of $16.97 and $17.03 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 Nuance Communica may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Nuance Communica share prices have moved between a 52-week high of $18.16 and a 52-week low of $12.67 and are now trading 34% above that low price at $17.03 per share. The 200-day and 50-day moving averages have moved 0% lower and 0.17% lower over the past week, respectively.

Nuance Communications, Inc. provides speech and imaging solutions for businesses and consumers around the world. The Company's products include a speech recognizer, call steering, and a product that converts text into speech.

Nuance Communica (NASDAQ:NUAN) is currently priced 0.2% above its average consensus analyst price target of $17.00. The stock should discover initial support at its 50-day moving average (MA) of $16.40 and subsequent support at its 200-day MA of $16.32.

SmarTrend is tracking the current trend status for Nuance Communica and will alert subscribers who have NUAN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle nuance communica

Ticker(s): NUAN