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Possible Bullish Inside Day Candle Pattern Detected for On Assignment (NASDAQ:ASGN)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in On Assignment (NASDAQ:ASGN) based on the price action in the company's shares. Yesterday's price range of $34.41 and $35.18 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 On Assignment may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

On Assignment, Inc. places professional employees on both long- and short-term assignments through its Lab Support, Healthcare Financial Staffing, and EnviroStaff divisions. The Company provides temporary scientific, environmental, and medical billing and collections professionals to a range of industries through a network of branch offices.

Over the past year, On Assignment has traded in a range of $29.34 to $51.00 and closed yesterday at $34.86, 19% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 0.2%.

There is potential upside of 42.8% for shares of On Assignment based on a current price of $34.86 and an average consensus analyst price target of $49.78. The stock should find initial resistance at its 50-day moving average (MA) of $35.60 and further resistance at its 200-day MA of $38.65.

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

Keywords: bullish am inside day candle on assignment

Ticker(s): ASGN