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Possible Bearish Inside Day Candle Pattern Detected for Servicemaster Gl (NYSE:SERV)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Servicemaster Gl (NYSE:SERV) based on the price action in the company's shares. Yesterday's price range of $53.56 and $53.95 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 Servicemaster Gl may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

ServiceMaster Global Holdings, Inc. provides termite and pest control, cleaning, and restoration services in residential and commercial markets in the United States. The company operates through, Terminix and the Franchise Services Group segments.

Servicemaster Gl (NYSE:SERV) has potential upside of 12.2% based on a current price of $53.46 and analysts' consensus price target of $60.00. The stock should discover initial support at its 50-day moving average (MA) of $50.57 and subsequent support at its 200-day MA of $43.60.

In the past 52 weeks, Servicemaster Gl share prices have been bracketed by a low of $34.28 and a high of $56.50 and closed yesterday at $53.46, 56% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has risen 0.6%.

SmarTrend recommended that subscribers consider buying shares of Servicemaster Gl on January 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.69. Since that recommendation, shares of Servicemaster Gl have risen 43.4%. We continue to monitor SERV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle servicemaster gl

Ticker(s): SERV