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Possible Bearish Inside Day Candle Pattern Detected for Evertec Inc (NYSE:EVTC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Evertec Inc (NYSE:EVTC) based on the price action in the company's shares. Yesterday's price range of $25.18 and $25.85 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 Evertec Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Evertec Inc (NYSE:EVTC) is currently priced 20.3% above its average consensus analyst price target of $20.20. The stock should find resistance at its 200-day moving average (MA) of $31.01, as well as support at its 50-day MA of $25.04.

EVERTEC, Inc. operates a full service transaction processing business. The Company offers merchant acquiring, payment processing, and business process management services. EVERTEC provides its services in Latin America and the Caribbean.

Evertec Inc share prices have moved between a 52-week high of $37.38 and a 52-week low of $18.21 and closed yesterday at 39% above that low price at $25.34 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 3% while the 200-day MA has slid 0.5%.

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

Keywords: bearish am inside day candle evertec inc

Ticker(s): EVTC