Possible Bullish Inside Day Candle Pattern Detected for Bottomline Technologies (NASDAQ:EPAY)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Bottomline Technologies (NASDAQ:EPAY) based on the price action in the company's shares. Yesterday's price range of $22.96 and $23.38 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 Bottomline Technologies may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Over the past year, Bottomline Technologies has traded in a range of $21.64 to $31.58 and closed yesterday at $23.14, 7% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.8%.
Bottomline Technologies (NASDAQ:EPAY) has potential upside of 30.7% based on a current price of $23.14 and analysts' consensus price target of $30.25. The stock should find initial resistance at its 200-day moving average (MA) of $28.01 and further resistance at its 50-day MA of $29.34.
Bottomline Technologies, Inc. provides enterprise-wide payment solutions. The Company's software and services enable organizations to change from the traditional paper check process to electronic payments and to facilitate electronic commerce. Bottomline's software integrates with existing corporate payment applications, such as accounts payable, payroll, and commissions.
SmarTrend recommended that its subscribers protect gains by selling shares of Bottomline Technologies on April 29th, 2016 by issuing a Downtrend alert when the shares were trading at $23.63. Since that call, shares of Bottomline Technologies have fallen 3.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: bullish am inside day candle bottomline technologies