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Possible Bullish Inside Day Candle Pattern Detected for Blackbaud (NASDAQ:BLKB)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Blackbaud (NASDAQ:BLKB) based on the price action in the company's shares. Yesterday's price range of $63.56 and $64.60 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 Blackbaud may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 5.6% for shares of Blackbaud based on a current price of $63.80 and an average consensus analyst price target of $67.40. The stock should discover initial support at its 50-day moving average (MA) of $61.02 and subsequent support at its 200-day MA of $60.31.

Blackbaud, Inc. provides software and related services designed specifically for non-profit organizations. The Company's products and services enable non-profit organizations to increase donations, reduce fundraising costs, improve communication with constituents, manage their finances, and optimize internal operations.

Blackbaud share prices have moved between a 52-week high of $68.51 and a 52-week low of $49.89 and closed yesterday at 28% above that low price at $63.80 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

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

Keywords: bullish am inside day candle blackbaud

Ticker(s): BLKB