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Possible Bearish Inside Day Candle Pattern Detected for Service Corp Int (NYSE:SCI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Service Corp Int (NYSE:SCI) based on the price action in the company's shares. Today's price range of $41.98 and $41.98 is within yesterday'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 Service Corp Int may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Service Corporation International provides death care services worldwide. The Company operates funeral service locations, cemeteries, and crematoria. Service also sells prearranged funeral services in most of its service markets.

Service Corp Int has overhead space with shares priced $41.98, or 7.4% below the average consensus analyst price target of $45.33. Service Corp Int shares have support at the 200-day moving average (MA) of $41.75 and additional support at the 50-day MA of $41.48.

Over the past year, Service Corp Int has traded in a range of $35.19 to $47.09 and is now at $41.98, 19% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for Service Corp Int and will alert subscribers who have SCI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle service corp int

Ticker(s): SCI