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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Pearson (NYSE:PSO) based on the price action in the company's shares. Today's price range of $11.50 and $11.59 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 Pearson may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 40.5% for shares of Pearson based on a current price of $11.55 and an average consensus analyst price target of $16.23. The stock should run into initial resistance at its 50-day moving average (MA) of $12.13 and subsequent resistance at its 200-day MA of $13.72.

Pearson plc is a holding company, whose international subsidiaries operate in the education and media sectors. The Company publishes various financial papers, trade books, textbooks and electronic education programs, via their businesses which include the Financial Times, Penguin, The Economist and Recoletos.

Pearson share prices have moved between a 52-week high of $21.15 and a 52-week low of $9.18 and are now trading 26% above that low price at $11.55 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 0.2%.

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

Keywords: bullish inside day candle pearson

Ticker(s): PSO