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Possible Bullish Inside Day Candle Pattern Detected for NCR (NYSE:NCR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in NCR (NYSE:NCR) based on the price action in the company's shares. Today's price range of $25.46 and $26.22 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 NCR may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

NCR share prices have moved between a 52-week high of $36.50 and a 52-week low of $18.02 and are now trading 41% above that low price at $25.46 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.2%.

NCR Corporation manufactures financial transaction machines and other products. The Company produces automated teller machines (ATM), self-checkout and self-service kiosks, point-of-sale workstations and scanners, manufactures printer consumable products, and manages networks and servers for ATMs and kiosks.

Potential upside of 15.6% exists for NCR, based on a current level of $25.46 and analysts' average consensus price target of $29.43. The stock should run into initial resistance at its 200-day moving average (MA) of $25.78 and subsequent resistance at its 50-day MA of $28.34.

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

Keywords: bullish inside day candle

Ticker(s): NCR