• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Bright Horizons (NYSE:BFAM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Bright Horizons (NYSE:BFAM) based on the price action in the company's shares. Today's price range of $100.32 and $102.43 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. Owners of Bright Horizons may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Bright Horizons share prices have moved between a 52-week high of $176.98 and a 52-week low of $64.23 and are now trading 59% above that low price at $101.96 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.4% while the 200-day MA has slid 0.7%.

Bright Horizons has overhead space with shares priced $101.96, or 2.4% below the average consensus analyst price target of $104.43. Bright Horizons shares should first meet resistance at the 50-day moving average (MA) of $146.49 and find additional resistance at the 200-day MA of $151.21.

Bright Horizons Family Solutions Inc. provides child care and early education services as well as other services designed to help employers and families better address the challenges of work and life. The Company provides services primarily under multi-year contracts with employers who offer child care and other dependent care solutions as part of their employee benefits packages.

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

Keywords: bearish inside day candle bright horizons

Ticker(s): BFAM