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

By Amy Schwartz

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. Yesterday's price range of $80.94 and $82.25 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 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 $86.54 and a 52-week low of $62.33 and closed yesterday at 32% above that low price at $82.09 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.2%.

Marsh & McLennan Companies, Inc. is a 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.

Potential upside of 11.1% exists for Marsh & Mclennan, based on a current level of $82.09 and analysts' average consensus price target of $91.24. The stock should discover initial support at its 50-day moving average (MA) of $60.49 and subsequent support at its 200-day MA of $56.32.

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

Keywords: bullish am inside day candle marsh & mclennan

Ticker(s): MMC