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Possible Bearish Inside Day Candle Pattern Detected for Nv5 Global Inc (NASDAQ:NVEE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nv5 Global Inc (NASDAQ:NVEE) based on the price action in the company's shares. Yesterday's price range of $53.55 and $55.75 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 Nv5 Global Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Nv5 Global Inc (NASDAQ:NVEE) is currently priced 14.9% above its average consensus analyst price target of $46.00. Nv5 Global Inc shares have support at the 50-day moving average (MA) of $25.14 and additional support at the 200-day MA of $22.07.

Nv5 Global Inc share prices have moved between a 52-week high of $58.95 and a 52-week low of $24.57 and closed yesterday at 120% above that low price at $54.05 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.8%.

NV5 Global, Inc. provides professional and technical engineering and consulting services. The Company offers planning, design, consulting, inspection, field supervision, and management oversight. NV5 Global serves the construction, real estate, and environmental industries.

SmarTrend is monitoring the recent change of momentum in Nv5 Global Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Nv5 Global Inc in search of a potential trend change.

Keywords: bearish am inside day candle nv5 global inc

Ticker(s): NVEE