• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Quest Diagnostic (NYSE:DGX)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Quest Diagnostic (NYSE:DGX) based on the price action in the company's shares. Yesterday's price range of $87.87 and $88.17 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 Quest Diagnostic may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Quest Diagnostic share prices have been bracketed by a low of $78.95 and a high of $116.49 and closed yesterday at $87.90, 11% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.4%.

Quest Diagnostics Incorporated provides diagnostic testing, information, and services. The Company operates a national network of full-service laboratories, rapid response laboratories, and patient service centers. Quest Diagnostics provides esoteric testing, routine medical testing, drugs of abuse testing, and non-hospital-based anatomic pathology testing.

There is potential upside of 25.7% for shares of Quest Diagnostic based on a current price of $87.90 and an average consensus analyst price target of $110.53. The stock should hit resistance at its 200-day moving average (MA) of $98.79, as well as support at its 50-day MA of $86.15.

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

Keywords: bearish am inside day candle quest diagnostic

Ticker(s): DGX