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Possible Bearish Inside Day Candle Pattern Detected for Ss&C Technologie (NASDAQ:SSNC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ss&C Technologie (NASDAQ:SSNC) based on the price action in the company's shares. Today's price range of $54.45 and $55.34 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 Ss&C Technologie may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ss&C Technologie share prices have moved between a 52-week high of $67.73 and a 52-week low of $29.51 and are now trading 87% above that low price at $55.31 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has remained constant.

There is potential upside of 4.6% for shares of Ss&C Technologie based on a current price of $55.31 and an average consensus analyst price target of $57.88. Ss&C Technologie shares have support at the 200-day moving average (MA) of $54.01 and additional support at the 50-day MA of $50.47.

SS&C Technologies Holdings, Inc. develops and markets computer software for financial services providers. The software enables trading and modeling, portfolio management and reporting, accounting, performance measurement, reconciliation, reporting, processing, and clearing.

SmarTrend is tracking the current trend status for Ss&C Technologie and will alert subscribers who have SSNC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle ss&c technologie

Ticker(s): SSNC