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

By Amy Schwartz

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 $74.58 and $75.26 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 share prices have moved between a 52-week high of $75.57 and a 52-week low of $42.12 and closed yesterday at 78% above that low price at $75.00 per share. The 200-day and 50-day moving averages have moved 0.08% lower and 1.87% higher over the past week, respectively.

Sei Investments (NASDAQ:SEIC) is currently priced 2.7% above its average consensus analyst price target of $73.00. The stock should find initial support at its 200-day moving average (MA) of $47.79 and further support at its 50-day MA of $43.46.

SmarTrend recommended that subscribers consider buying shares of Sei Investments on November 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $48.22. Since that recommendation, shares of Sei Investments have risen 56.2%. We continue to monitor SEIC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle sei investments

Ticker(s): SEIC