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Possible Bullish Inside Day Candle Pattern Detected for MSCI (NASDAQ:MSCI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in MSCI (NASDAQ:MSCI) based on the price action in the company's shares. Yesterday's price range of $83.54 and $84.28 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 MSCI may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

MSCI share prices have moved between a 52-week high of $90.79 and a 52-week low of $41.16 and closed yesterday at 104% above that low price at $83.94 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

Based on a current price of $83.94, MSCI is currently 14.8% above its average consensus analyst price target of $71.50. MSCI shares have support at the 50-day moving average (MA) of $72.85 and additional support at the 200-day MA of $67.52.

MSCI Inc. provides investment decision support tools to investment institutions worldwide. The Company produces indices and risk and return portfolio analytics for use in managing investment portfolios.

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

Keywords: bullish am inside day candle

Ticker(s): MSCI