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Possible Bearish Inside Day Candle Pattern Detected for Genpact Ltd (NYSE:G)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Genpact Ltd (NYSE:G) based on the price action in the company's shares. Yesterday's price range of $28.30 and $29.82 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 Genpact Ltd may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Genpact Ltd has traded in a range of $19.41 to $45.20 and closed yesterday at $28.84, 49% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 4.1%.

Genpact Ltd (NYSE:G) has potential upside of 18.2% based on a current price of $28.84 and analysts' consensus price target of $34.10. The stock should find initial resistance at its 50-day moving average (MA) of $38.74 and further resistance at its 200-day MA of $39.54.

Genpact Limited designs and manages business operations to manage risk and compliance. The Company focuses on the areas of finance and procurement, financial services account servicing, claims management, regulatory affairs, and industrial asset optimization. Genpact operates worldwide.

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

Keywords: bearish am inside day candle genpact ltd

Ticker(s): G