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Possible Bullish Inside Day Candle Pattern Detected for Global Payments (NYSE:GPN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Global Payments (NYSE:GPN) based on the price action in the company's shares. Today's price range of $68.01 and $68.98 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 Global Payments may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Global Payments share prices have moved between a 52-week high of $78.92 and a 52-week low of $50.13 and are now trading 37% above that low price at $68.89 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.5%.

Global Payments Inc. provides electronic transaction processing, information systems, and services. The Company serves the financial, corporate, government, and merchant communities on a worldwide basis. Global Payments provides funds transfer, merchant services, merchant accounting, Internet services, and other services.

There is potential upside of 0.5% for shares of Global Payments based on a current price of $68.89 and an average consensus analyst price target of $69.20. The stock should find initial support at its 50-day moving average (MA) of $66.72 and further support at its 200-day MA of $62.80.

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

Keywords: bullish inside day candle global payments

Ticker(s): GPN