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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 $57.04 and $57.30 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 (NASDAQ:SEIC) has potential upside of 40.4% based on a current price of $56.98 and analysts' consensus price target of $80.00. The stock should find initial support at its 200-day moving average (MA) of $55.07 and further support at its 50-day MA of $52.31.

Franklin Resources, Inc. is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. The firm invests in the public equity, fixed income, and alternative markets. Franklin Resources, Inc. was founded in 1947 and is based in San Mateo, California with an additional office in Hyderabad, India.

Sei Investments share prices have moved between a 52-week high of $73.53 and a 52-week low of $42.27 and closed yesterday at 35% above that low price at $56.98 per share. The 200-day and 50-day moving averages have moved 0.18% lower and 0.98% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Sei Investments. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Sei Investments in search of a potential trend change.

Keywords: bearish am inside day candle sei investments

Ticker(s): SEIC