• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Aecom (NYSE:ACM)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Aecom (NYSE:ACM) based on the price action in the company's shares. Yesterday's price range of $30.81 and $31.80 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. Traders and investors interested in shares of Aecom may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Aecom share prices have moved between a 52-week high of $39.90 and a 52-week low of $29.13 and closed yesterday at 8% above that low price at $31.53 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.2%.

Aecom has overhead space with shares priced $31.53, or 21.9% below the average consensus analyst price target of $40.38. Aecom shares should first meet resistance at the 50-day moving average (MA) of $31.87 and find additional resistance at the 200-day MA of $33.63.

AECOM provides professional technical services to the United States government, state, local, and non-U.S. governments and agencies, and commercial customers. The Company's services include consulting, planning, architecture, engineering, construction management, project management, asset management, environmental services, and design-build services.

SmarTrend is monitoring the recent change of momentum in Aecom. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Aecom in search of a potential trend change.

Keywords: bullish am inside day candle aecom

Ticker(s): ACM