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Possible Bearish Inside Day Candle Pattern Detected for Q2 Holdings Inc (NYSE:QTWO)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Q2 Holdings Inc (NYSE:QTWO) based on the price action in the company's shares. Yesterday's price range of $47.60 and $48.10 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 Q2 Holdings Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Q2 Holdings, Inc. is a provider of secure, cloud-based virtual banking solutions. The Company enables regional and community financial institutions, and RCFIs, to deliver a suite of integrated virtual banking services.

Q2 Holdings Inc share prices have moved between a 52-week high of $48.40 and a 52-week low of $25.23 and closed yesterday at 90% above that low price at $47.90 per share. The 200-day and 50-day moving averages have moved 0.47% lower and 1.12% higher over the past week, respectively.

Potential upside of 2.0% exists for Q2 Holdings Inc, based on a current level of $47.90 and analysts' average consensus price target of $48.85. Q2 Holdings Inc shares have support at the 200-day moving average (MA) of $24.82 and additional support at the 50-day MA of $22.68.

SmarTrend recommended that subscribers consider buying shares of Q2 Holdings Inc on January 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.72. Since that recommendation, shares of Q2 Holdings Inc have risen 18.1%. We continue to monitor QTWO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle q2 holdings inc

Ticker(s): QTWO