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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Gartner (NYSE:IT) based on the price action in the company's shares. Today's price range of $93.29 and $94.00 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 Gartner 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 $93.92, Gartner is currently 5.1% above its average consensus analyst price target of $89.10. Gartner shares have support at the 200-day moving average (MA) of $87.01 and additional support at the 50-day MA of $86.81.

Gartner share prices have moved between a 52-week high of $103.00 and a 52-week low of $77.80 and are now trading 21% above that low price at $93.92 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

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

SmarTrend is monitoring the recent change of momentum in Gartner. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Gartner in search of a potential trend change.

Keywords: bullish inside day candle gartner

Ticker(s): IT