• Return to Headlines

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

By Amy Schwartz

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 $110.61 and $111.59 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.

Quest Diagnostic (NYSE:DGX) is currently priced 0.4% above its average consensus analyst price target of $110.53. The stock should discover initial support at its 50-day moving average (MA) of $102.52 and subsequent support at its 200-day MA of $100.15.

Quest Diagnostic share prices have moved between a 52-week high of $112.30 and a 52-week low of $90.10 and closed yesterday at 23% above that low price at $111.01 per share. The 200-day and 50-day moving averages have moved 0.06% higher and 0.68% higher over the past week, respectively.

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.

SmarTrend recommended that subscribers consider buying shares of Quest Diagnostic on May 14th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $102.84. Since that recommendation, shares of Quest Diagnostic have risen 8.6%. We continue to monitor DGX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle quest diagnostic

Ticker(s): DGX