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Possible Bullish Inside Day Candle Pattern Detected for Och-Ziff Capital Management Group (NYSE:OZM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Och-Ziff Capital Management Group (NYSE:OZM) based on the price action in the company's shares. Yesterday's price range of $3.86 and $3.96 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 Och-Ziff Capital Management Group may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Och-Ziff Capital Management Group (NYSE:OZM) has potential upside of 138.7% based on a current price of $3.91 and analysts' consensus price target of $9.33. Och-Ziff Capital Management Group shares should first meet resistance at the 50-day moving average (MA) of $4.09 and find additional resistance at the 200-day MA of $6.69.

Och-Ziff Capital Management Group share prices have moved between a 52-week high of $13.49 and a 52-week low of $2.89 and closed yesterday at 35% above that low price at $3.91 per share. Over the past week, the 200-day moving average (MA) has gone down 2.5% while the 50-day MA has declined 0.4%.

Och-Ziff Capital Management Group manages hedge funds. The Company provides a variety of alternative asset management services for fund investors through locations in the United States, Europe, and Asia. Och-ziff Capital's investment strategies include private equity, real estate, and equity restructuring.

SmarTrend is tracking the current trend status for Och-Ziff Capital Management Group and will alert subscribers who have OZM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle och-ziff capital management group

Ticker(s): OZM