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Possible Bearish Inside Day Candle Pattern Detected for Verint Systems (NASDAQ:VRNT)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Verint Systems (NASDAQ:VRNT) based on the price action in the company's shares. Yesterday's price range of $44.58 and $45.00 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 Verint Systems may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Verint Systems Inc. provides analytic solutions for communications, interception, digital video security and surveillance, and enterprise business intelligence. The Company's software generates actionable intelligence through the collection, retention, and analysis of voice, fax, video, email, internet, and data transmission from various types of communications networks.

In the past 52 weeks, shares of Verint Systems have traded between a low of $37.10 and a high of $52.45 and closed yesterday at $44.60, which is 20% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 0.06% higher over the past week, respectively.

Verint Systems (NASDAQ:VRNT) has potential upside of 9.9% based on a current price of $44.60 and analysts' consensus price target of $49.00. Verint Systems shares should encounter resistance at the 200-day moving average (MA) of $45.06 and support at the 50-day MA of $44.41.

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

Keywords: bearish am inside day candle verint systems

Ticker(s): VRNT