Possible Bullish Inside Day Candle Pattern Detected for Mantech International (NASDAQ:MANT)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Mantech International (NASDAQ:MANT) based on the price action in the company's shares. Yesterday's price range of $27.70 and $27.93 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 Mantech International may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Mantech International (NASDAQ:MANT) is currently priced 6.6% above its average consensus analyst price target of $26.00. Mantech International shares should encounter resistance at the 50-day moving average (MA) of $27.92 and support at its 200-day MA of $26.52.
Mantech International share prices have moved between a 52-week high of $46.26 and a 52-week low of $19.74 and closed yesterday at 41% above that low price at $27.85 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.2%.
ManTech International Corporation delivers a variety of information technology and technical services to United States federal government customers. The Company focuses on critical national defense programs for the intelligence community and Department of Defense. ManTech designs, develops, and operates enterprise information technology and communication systems and infrastructures.
SmarTrend recommended that subscribers consider buying shares of Mantech International on July 11th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.02. Since that recommendation, shares of Mantech International have risen 3.1%. We continue to monitor MANT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: bullish am inside day candle mantech international