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Possible Bullish Inside Day Candle Pattern Detected for Equifax (NYSE:EFX)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Equifax (NYSE:EFX) based on the price action in the company's shares. Today's price range of $134.18 and $135.77 is within yesterday'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 Equifax 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, Equifax has traded in a range of $90.94 to $139.89 and is now at $134.85, 48% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has risen 0.4%.

Equifax Inc. brings buyers and sellers together through its information management, transaction processing, direct marketing, and customer relationship management businesses. The company serves the financial services, retail, credit card, telecommunications/utilities, transportation, information technology and healthcare industries and government.

Equifax has overhead space with shares priced $134.85, or 4.8% below the average consensus analyst price target of $141.62. Equifax shares have support at the 50-day moving average (MA) of $113.09 and additional support at the 200-day MA of $106.18.

SmarTrend recommended that subscribers consider buying shares of Equifax on February 8th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $121.51. Since that recommendation, shares of Equifax have risen 12.1%. We continue to monitor EFX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle equifax

Ticker(s): EFX