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Possible Bearish Inside Day Candle Pattern Detected for Ss&C Technologie (NASDAQ:SSNC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ss&C Technologie (NASDAQ:SSNC) based on the price action in the company's shares. Today's price range of $45.90 and $46.10 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 Ss&C Technologie may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

SS&C Technologies Holdings, Inc. provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan.

Over the past year, Ss&C Technologie has traded in a range of $40.96 to $67.73 and is now at $45.90, 12% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has remained constant.

Potential upside of 26.1% exists for Ss&C Technologie, based on a current level of $45.90 and analysts' average consensus price target of $57.88. The stock should find initial resistance at its 50-day moving average (MA) of $53.89 and further resistance at its 200-day MA of $54.76.

SmarTrend recommended that its subscribers protect gains by selling shares of Ss&C Technologie on July 31st, 2019 by issuing a Downtrend alert when the shares were trading at $49.07. Since that call, shares of Ss&C Technologie have fallen 6.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle ss&c technologie

Ticker(s): SSNC