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Possible Bullish Inside Day Candle Pattern Detected for Factset Research (:FDS)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Factset Research (:FDS) based on the price action in the company's shares. Yesterday's price range of $264.92 and $268.72 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. Traders and investors interested in shares of Factset Research may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

FactSet Research Systems Inc. supplies global economic and financial data to analysts, investment bankers, and other financial professionals. The Company combines databases from multiple suppliers into a single online source of information and analytics, including fundamental data.

Factset Research (:FDS) is currently priced 29.2% above its average consensus analyst price target of $189.40. The stock should hit resistance at its 200-day moving average (MA) of $269.55, as well as support at its 50-day MA of $263.11.

Factset Research share prices have moved between a 52-week high of $305.38 and a 52-week low of $198.27 and closed yesterday at 35% above that low price at $267.39 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of Factset Research on October 23rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $251.83. Since that recommendation, shares of Factset Research have risen 5.2%. We continue to monitor FDS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle :fds factset research

Ticker(s): FDS