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Possible Bullish Inside Day Candle Pattern Detected for SYKES Enterprises (NASDAQ:SYKE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in SYKES Enterprises (NASDAQ:SYKE) based on the price action in the company's shares. Yesterday's price range of $27.43 and $27.79 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 SYKES Enterprises may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Sykes Enterprises, Incorporated provides customer management solutions and services in North America, Europe, Latin America, Asia, and Africa. The Company serves customers of companies in the financial services, communications, and technology/consumer markets. Sykes provides technical support and customer service, as well as customer relationship management consulting.

SYKES Enterprises (NASDAQ:SYKE) has potential upside of 15.1% based on a current price of $27.51 and analysts' consensus price target of $31.67. The stock should find initial resistance at its 200-day moving average (MA) of $28.35 and further resistance at its 50-day MA of $29.26.

SYKES Enterprises share prices have moved between a 52-week high of $33.00 and a 52-week low of $22.48 and closed yesterday at 22% above that low price at $27.51 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.3%.

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

Keywords: bullish am inside day candle sykes enterprises

Ticker(s): SYKE