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Possible Bearish Inside Day Candle Pattern Detected for Tetra Tech Inc (NASDAQ:TTEK)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tetra Tech Inc (NASDAQ:TTEK) based on the price action in the company's shares. Yesterday's price range of $72.03 and $73.30 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 Tetra Tech Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Tetra Tech Inc (NASDAQ:TTEK) is currently priced 19.7% above its average consensus analyst price target of $58.17. Tetra Tech Inc shares have support at the 50-day moving average (MA) of $64.76 and additional support at the 200-day MA of $62.05.

Tetra Tech, Inc. provides specialized management consulting and technical services primarily in resource management, infrastructure, and communications. The Company's clients include a diverse base of public and private sector organizations. Tetra Tech operates offices in the United States and internationally.

In the past 52 weeks, shares of Tetra Tech Inc have traded between a low of $48.52 and a high of $74.43 and closed yesterday at $72.43, which is 49% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

SmarTrend recommended that subscribers consider buying shares of Tetra Tech Inc on February 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $55.00. Since that recommendation, shares of Tetra Tech Inc have risen 35.1%. We continue to monitor TTEK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle tetra tech inc

Ticker(s): TTEK