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Possible Bearish Inside Day Candle Pattern Detected for Service Corp Int (NYSE:SCI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Service Corp Int (NYSE:SCI) based on the price action in the company's shares. Today's price range of $37.51 and $38.75 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 Service Corp Int may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Service Corp Int share prices have moved between a 52-week high of $52.89 and a 52-week low of $34.37 and are now trading 10% above that low price at $37.75 per share. The 200-day and 50-day moving averages have moved 0.3% lower and 1.47% lower over the past week, respectively.

Service Corporation International provides death care services worldwide. The Company operates funeral service locations, cemeteries, and crematoria. Service also sells prearranged funeral services in most of its service markets.

There is potential upside of 20.1% for shares of Service Corp Int based on a current price of $37.75 and an average consensus analyst price target of $45.33. The stock should find initial resistance at its 50-day moving average (MA) of $45.26 and further resistance at its 200-day MA of $45.96.

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

Keywords: bearish inside day candle service corp int

Ticker(s): SCI