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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Teradata (NYSE:TDC) based on the price action in the company's shares. Yesterday's price range of $24.48 and $25.23 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 Teradata may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Teradata (NYSE:TDC) has potential upside of 15.8% based on a current price of $24.87 and analysts' consensus price target of $28.79. The stock should run into initial resistance at its 50-day moving average (MA) of $25.79 and subsequent resistance at its 200-day MA of $27.48.

Over the past year, Teradata has traded in a range of $21.98 to $45.65 and closed yesterday at $24.87, 13% above that low. The 200-day and 50-day moving averages have moved 0.79% lower and 0.13% higher over the past week, respectively.

Teradata Corporation provides data warehousing solutions, including enterprise analytic technologies and services. The Company's data warehousing solutions are comprised of software, hardware, and related business consulting and support services.

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

Keywords: bullish am inside day candle Teradata

Ticker(s): TDC