• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Perficient (NASDAQ:PRFT)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Perficient (NASDAQ:PRFT) based on the price action in the company's shares. Yesterday's price range of $18.03 and $18.36 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 Perficient may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Perficient, Inc. provides dedicated virtual professional services organizations (VPSOs) to Internet software companies. The Company's V-PSOs allow its software company partners to focus on their core business by outsourcing delivery to expert, highly scalable, internationally deployed Perficient teams that function as an extension of the partner's organization.

There is potential upside of 9.1% for shares of Perficient based on a current price of $18.15 and an average consensus analyst price target of $19.80. Perficient shares should encounter resistance at the 50-day moving average (MA) of $20.23 and support at its 200-day MA of $17.66.

Perficient share prices have moved between a 52-week high of $22.66 and a 52-week low of $14.14 and closed yesterday at 28% above that low price at $18.15 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.1%.

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

Keywords: bearish am inside day candle perficient

Ticker(s): PRFT