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Possible Bearish Inside Day Candle Pattern Detected for Quest Diagnostic (NYSE:DGX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Quest Diagnostic (NYSE:DGX) based on the price action in the company's shares. Yesterday's price range of $106.29 and $106.76 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 Quest Diagnostic may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Quest Diagnostics Incorporated provides diagnostic testing, information, and services. The Company operates a national network of full-service laboratories, rapid response laboratories, and patient service centers. Quest Diagnostics offers esoteric, routine medical, drugs of abuse, and non-hospital-based anatomic pathology testing services.

In the past 52 weeks, shares of Quest Diagnostic have traded between a low of $79.93 and a high of $108.95 and closed yesterday at $105.73, which is 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

Quest Diagnostic has overhead space with shares priced $105.73, or 4.3% below the average consensus analyst price target of $110.53. Quest Diagnostic shares have support at the 50-day moving average (MA) of $104.39 and additional support at the 200-day MA of $100.59.

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

Keywords: bearish am inside day candle quest diagnostic

Ticker(s): DGX