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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 $36.38 and $36.76 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 Servicemaster Gl may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 64.0% for shares of Servicemaster Gl based on a current price of $36.58 and an average consensus analyst price target of $60.00. The stock should run into initial resistance at its 50-day moving average (MA) of $48.43 and subsequent resistance at its 200-day MA of $50.09.

In the past 52 weeks, Servicemaster Gl share prices have been bracketed by a low of $33.53 and a high of $58.78 and closed yesterday at $36.58, 9% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2.5%.

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