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Possible Bullish Inside Day Candle Pattern Detected for Gartner Inc (NYSE:IT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Gartner Inc (NYSE:IT) based on the price action in the company's shares. Yesterday's price range of $141.12 and $143.08 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 Gartner Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Gartner Inc (NYSE:IT) defies analysts with a current price ($138.70) 1.1% above its average consensus price target of $137.11. Gartner Inc shares should first meet resistance at the 200-day moving average (MA) of $151.60 and find additional resistance at the 50-day MA of $155.85.

Gartner, Inc. provides research and analysis on the computer hardware, software, communications, and related information technology industries. The Company's business segments includes research, consulting, measurement, events, and executive programs.

Over the past year, Gartner Inc has traded in a range of $124.77 to $171.77 and closed yesterday at $138.70, 11% above that low. The 200-day and 50-day moving averages have moved 0.09% lower and 0.5% lower over the past week, respectively.

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

Keywords: bullish am inside day candle gartner inc

Ticker(s): IT