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Possible Bearish Inside Day Candle Pattern Detected for SEI Investments (NASDAQ:SEIC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in SEI Investments (NASDAQ:SEIC) based on the price action in the company's shares. Yesterday's price range of $45.61 and $46.50 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 SEI Investments may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

SEI Investments Company provides global investment solutions and business solutions. The Company integrates technology, research, information services, financial products, and asset management advice to serve banks, mutual fund and pension plan sponsors, insurance companies, money managers, and individual investors.

SEI Investments (NASDAQ:SEIC) has potential upside of 20.6% based on a current price of $45.94 and analysts' consensus price target of $55.40. SEI Investments shares should encounter resistance at the 200-day moving average (MA) of $47.79 and support at the 50-day MA of $43.46.

In the past 52 weeks, SEI Investments share prices have been bracketed by a low of $32.01 and a high of $55.48 and closed yesterday at $45.94, 44% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.9%.

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

Keywords: bearish am inside day candle sei investments

Ticker(s): SEIC