• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for VASCO Data Security International (NASDAQ:VDSI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in VASCO Data Security International (NASDAQ:VDSI) based on the price action in the company's shares. Yesterday's price range of $17.86 and $18.37 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 VASCO Data Security International may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

VASCO Data Security International share prices have moved between a 52-week high of $35.00 and a 52-week low of $12.35 and closed yesterday at 45% above that low price at $17.92 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has slid 0.8%.

VASCO Data Security International, Inc., through its operating subsidiaries, designs, develops, markets, and supports open standards-based hardware and software security systems. The Company's systems manage and secure access to information assets. VASCO Data's computer security subsidiaries include VASCO Data Security, Inc. in Illinois, and VASCO Data Security nv/sa of Belgium.

Potential upside of 86.0% exists for VASCO Data Security International, based on a current level of $17.92 and analysts' average consensus price target of $33.33. The stock should find initial support at its 200-day moving average (MA) of $17.31 and further support at its 50-day MA of $15.63.

SmarTrend is tracking the current trend status for VASCO Data Security International and will alert subscribers who have VDSI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle vasco data security international

Ticker(s): VDSI