• Return to Headlines

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

By David Diaz

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. Yesterday's price range of $24.17 and $24.33 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 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 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.

In the past 52 weeks, Symantec Corp share prices have been bracketed by a low of $17.43 and a high of $29.20 and closed yesterday at $24.30, 39% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.

Based on a current price of $24.30, Symantec Corp is currently 4.7% above its average consensus analyst price target of $23.16. The stock should discover initial support at its 50-day moving average (MA) of $22.96 and subsequent support at its 200-day MA of $21.09.

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 am inside day candle symantec corp

Ticker(s): SYMC