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Possible Bearish Inside Day Candle Pattern Detected for Euronet Worldwid (NASDAQ:EEFT)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Euronet Worldwid (NASDAQ:EEFT) based on the price action in the company's shares. Yesterday's price range of $90.63 and $95.27 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. Owners of Euronet Worldwid may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Euronet Worldwide, Inc. provides electronic financial transaction solutions. The Company offers financial payment middleware, financial network gateways, outsourcing, and consulting services to financial institutions and mobile operators. Euronet has processing centers located in the United States, Europe, and Asia.

Potential upside of 13.1% exists for Euronet Worldwid, based on a current level of $91.76 and analysts' average consensus price target of $103.80. The stock should run into initial resistance at its 50-day moving average (MA) of $94.88 and subsequent resistance at its 200-day MA of $138.74.

Euronet Worldwid share prices have moved between a 52-week high of $171.25 and a 52-week low of $61.27 and closed yesterday at 50% above that low price at $91.76 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 4.4%.

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

Keywords: bearish am inside day candle euronet worldwid

Ticker(s): EEFT