Possible Bullish Inside Day Candle Pattern Detected for Moody's (NYSE:MCO)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Moody's (NYSE:MCO) based on the price action in the company's shares. Today's price range of $88.86 and $89.54 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 Moody's may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Moody's has overhead space with shares priced $88.96, or 20.7% below the average consensus analyst price target of $112.11. The stock should run into initial resistance at its 50-day moving average (MA) of $95.28 and subsequent resistance at its 200-day MA of $97.88.
In the past 52 weeks, Moody's share prices have been bracketed by a low of $77.76 and a high of $113.87 and are now at $88.96, 14% above that low price. The 200-day and 50-day moving averages have moved 0.37% lower and 0.64% higher over the past week, respectively.
Moody's Corporation is a credit rating, research, and risk analysis firm. The Company provides credit ratings and related research, data and analytical tools, quantitative credit risk measures, risk scoring software, and credit portfolio management solutions and securities pricing software and valuation models.
SmarTrend is monitoring the recent change of momentum in Moody's. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Moody's in search of a potential trend change.
Keywords: bullish inside day candle moody's