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Possible Bearish Inside Day Candle Pattern Detected for Servicemaster Gl (NYSE:SERV)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Servicemaster Gl (NYSE:SERV) based on the price action in the company's shares. Yesterday's price range of $33.12 and $34.44 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 Servicemaster Gl may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Servicemaster Gl has overhead space with shares priced $34.05, or 43.3% below the average consensus analyst price target of $60.00. The stock should hit resistance at its 200-day moving average (MA) of $41.90, as well as support at its 50-day MA of $29.87.

Servicemaster Gl share prices have moved between a 52-week high of $58.78 and a 52-week low of $17.63 and closed yesterday at 93% above that low price at $34.05 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.1%.

ServiceMaster Global Holdings Inc. provides outsourcing services for residential and commercial customers. The Company offers lawn care and landscape maintenance, termite and pest control, home warranties, disaster response and reconstruction, cleaning and disaster restoration, house cleaning, furniture repair, and home inspection services.

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

Keywords: bearish am inside day candle servicemaster gl

Ticker(s): SERV