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Possible Bullish Inside Day Candle Pattern Detected for Genpact (NYSE:G)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Genpact (NYSE:G) based on the price action in the company's shares. Yesterday's price range of $25.43 and $25.85 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 Genpact may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Genpact share prices have been bracketed by a low of $20.95 and a high of $28.52 and closed yesterday at $25.83, 23% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.4%.

Potential upside of 0.6% exists for Genpact, based on a current level of $25.83 and analysts' average consensus price target of $25.99. Genpact shares should encounter resistance at the 50-day moving average (MA) of $27.19 and support at its 200-day MA of $24.78.

Genpact Limited manages business processes for companies around the world. The Company works with companies to help them streamline their business processes.

SmarTrend recommended that its subscribers protect gains by selling shares of Genpact on May 5th, 2016 by issuing a Downtrend alert when the shares were trading at $26.63. Since that call, shares of Genpact have fallen 4.6%. 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 genpact

Ticker(s): G