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

By James Quinn

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 $62.95 and $63.17 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.

Over the past year, Ss&C Technologie has traded in a range of $40.96 to $64.36 and is now at $62.95, 54% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 2.7%.

SS&C Technologies Holdings, Inc. develops and markets computer software for financial services providers. The software enables trading and modeling, portfolio management and reporting, accounting, performance measurement, reconciliation, reporting, processing, and clearing.

Based on a current price of $62.95, Ss&C Technologie is currently 8.1% above its average consensus analyst price target of $57.88. The stock should discover initial support at its 50-day moving average (MA) of $54.10 and subsequent support at its 200-day MA of $52.58.

SmarTrend recommended that subscribers consider buying shares of Ss&C Technologie on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.26. Since that recommendation, shares of Ss&C Technologie have risen 36.5%. We continue to monitor SSNC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle ss&c technologie

Ticker(s): SSNC