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

By David Diaz

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. Yesterday's price range of $50.18 and $50.78 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 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.

In the past 52 weeks, shares of Ss&C Technologie have traded between a low of $40.96 and a high of $67.73 and closed yesterday at $50.44, which is 23% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.2%.

Ss&C Technologie has overhead space with shares priced $50.44, or 12.9% below the average consensus analyst price target of $57.88. The stock should find resistance at its 200-day moving average (MA) of $55.23, as well as support at its 50-day MA of $48.12.

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.

SmarTrend is tracking the current trend status for Ss&C Technologie and will alert subscribers who have SSNC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle ss&c technologie

Ticker(s): SSNC