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Possible Bullish Inside Day Candle Pattern Detected for Booz Allen Hamil (NYSE:BAH)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Booz Allen Hamil (NYSE:BAH) based on the price action in the company's shares. Yesterday's price range of $70.68 and $71.27 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 Booz Allen Hamil may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Based on a current price of $70.89, Booz Allen Hamil is currently 33.3% above its average consensus analyst price target of $47.25. The stock should find resistance at its 50-day moving average (MA) of $72.07, as well as support at its 200-day MA of $61.96.

In the past 52 weeks, Booz Allen Hamil share prices have been bracketed by a low of $43.24 and a high of $78.01 and closed yesterday at $70.89, 64% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.2%.

Booz Allen Hamilton Holding Corp. provides management and technology consulting services to the U.S. government in the defense, intelligence, and civil markets. The Company offers economic and business analysis, information technology, intelligence and operations analysis, modeling and simulation, organization, and other consulting services.

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

Keywords: bullish am inside day candle booz allen hamil

Ticker(s): BAH