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Possible Bullish Inside Day Candle Pattern Detected for Sps Commerce Inc (NASDAQ:SPSC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Sps Commerce Inc (NASDAQ:SPSC) based on the price action in the company's shares. Yesterday's price range of $95.80 and $97.88 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 Sps Commerce Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Sps Commerce Inc share prices have moved between a 52-week high of $100.68 and a 52-week low of $45.02 and closed yesterday at 117% above that low price at $97.73 per share. Over the past week, the 200-day moving average (MA) has gone up 1.4% while the 50-day MA has advanced 1.9%.

Based on a current price of $97.73, Sps Commerce Inc is currently 27.5% above its average consensus analyst price target of $70.86. The stock should find initial support at its 50-day moving average (MA) of $90.57 and further support at its 200-day MA of $69.51.

SPS Commerce Inc provides on-demand supply chain management solutions through an online hosted software suite. The Company uses pre-built integrations to eliminate on-premise software and support staff to shorten supply cycle times, optimize inventory levels and reduce costs.

SmarTrend recommended that subscribers consider buying shares of Sps Commerce Inc on January 5th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.56. Since that recommendation, shares of Sps Commerce Inc have risen 89.4%. We continue to monitor SPSC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle sps commerce inc

Ticker(s): SPSC