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

By Nick Russo

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 $76.09 and $77.08 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 (NYSE:GPN) is currently priced 10.0% above its average consensus analyst price target of $69.20. The stock should discover initial support at its 50-day moving average (MA) of $66.72 and subsequent support at its 200-day MA of $62.80.

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.

Global Payments share prices have moved between a 52-week high of $79.93 and a 52-week low of $50.13 and are now trading 53% above that low price at $76.85 per share. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.5%.

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

Keywords: bullish inside day candle global payments

Ticker(s): GPN