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Possible Bullish Inside Day Candle Pattern Detected for Marsh & McLennan (NYSE:MMC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Marsh & McLennan (NYSE:MMC) based on the price action in the company's shares. Today's price range of $66.53 and $66.71 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 Marsh & McLennan may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Marsh & McLennan share prices have moved between a 52-week high of $68.69 and a 52-week low of $50.81 and are now trading 31% above that low price at $66.61 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

Marsh & McLennan (NYSE:MMC) is currently priced 9.0% above its average consensus analyst price target of $60.59. The stock should find initial support at its 50-day moving average (MA) of $60.49 and further support at its 200-day MA of $56.32.

Marsh & McLennan Companies, Inc. is a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital. Marsh & McLennan offers analysis, advice, and transactional capabilities to clients worldwide

SmarTrend is tracking the current trend status for Marsh & McLennan and will alert subscribers who have MMC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle marsh & mclennan

Ticker(s): MMC