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Possible Bearish Inside Day Candle Pattern Detected for Verisk Analyti (NASDAQ:VRSK)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Verisk Analyti (NASDAQ:VRSK) based on the price action in the company's shares. Yesterday's price range of $157.44 and $157.65 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 Verisk Analyti may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Verisk Analyti (NASDAQ:VRSK) is currently priced 29.4% above its average consensus analyst price target of $110.83. The stock should discover initial support at its 200-day moving average (MA) of $148.46 and subsequent support at its 50-day MA of $146.97.

Verisk Analyti share prices have moved between a 52-week high of $164.97 and a 52-week low of $111.05 and closed yesterday at 41% above that low price at $156.88 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.4%.

Verisk Analytics, Inc. conducts risk assessment services and decision analytics. The Company offers data, statistical, and actuarial services, as well as standardized insurance policy programs, underwriting information, and rating-integrity tools. Verisk Analytics provides data and software information services to the property, casualty, and mortgage fields in the United States.

SmarTrend recommended that subscribers consider buying shares of Verisk Analyti on November 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $144.49. Since that recommendation, shares of Verisk Analyti have risen 9.4%. We continue to monitor VRSK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle verisk analyti

Ticker(s): VRSK