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Possible Bearish Inside Day Candle Pattern Detected for TeleTech (NASDAQ:TTEC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in TeleTech (NASDAQ:TTEC) based on the price action in the company's shares. Yesterday's price range of $30.30 and $30.85 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 TeleTech may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

TeleTech (NASDAQ:TTEC) has potential upside of 4.1% based on a current price of $30.75 and analysts' consensus price target of $32.00. TeleTech shares have support at the 50-day moving average (MA) of $27.78 and additional support at the 200-day MA of $27.63.

In the past 52 weeks, shares of TeleTech have traded between a low of $24.15 and a high of $31.97 and closed yesterday at $30.75, which is 27% above that low price. The 200-day and 50-day moving averages have moved 0.04% higher and 0.10% higher over the past week, respectively.

TeleTech Holdings, Inc. provides integrated customer management solutions to Fortune 500 and multinational companies located worldwide. The Company helps its clients acquire, serve, retain, and optimize customer relationships by managing all aspects of their customer interactions. TeleTech provides both live-agent and automated customer management.

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

Keywords: bearish am inside day candle teletech

Ticker(s): TTEC