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Possible Bearish Inside Day Candle Pattern Detected for Symantec Corp (NASDAQ:SYMC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Symantec Corp (NASDAQ:SYMC) based on the price action in the company's shares. Today's price range of $24.33 and $24.33 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 Symantec Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Symantec Corp share prices have moved between a 52-week high of $29.20 and a 52-week low of $17.43 and are now trading 40% above that low price at $24.33 per share. The 200-day and 50-day moving averages have moved 0.27% higher and 0.66% higher over the past week, respectively.

Symantec Corporation provides security, storage, and systems management solutions to help businesses and consumers secure and manage their information. The Company offers software and services that protect, manage, and control information risks related to security, data protection, storage, compliance, and management.

Symantec Corp (NASDAQ:SYMC) is currently priced 4.8% above its average consensus analyst price target of $23.16. The stock should find initial support at its 50-day moving average (MA) of $22.94 and further support at its 200-day MA of $21.07.

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

Keywords: bearish inside day candle symantec corp

Ticker(s): SYMC