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Possible Bullish Inside Day Candle Pattern Detected for Lazard Ltd-Cl A (NYSE:LAZ)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Lazard Ltd-Cl A (NYSE:LAZ) based on the price action in the company's shares. Yesterday's price range of $24.38 and $25.42 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 Lazard Ltd-Cl A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Lazard Ltd provides asset management and financial advisory services. The Company offers advice on mergers and acquisitions, strategic matters, restructuring capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments and individuals. Lazard serves customers internationally.

Lazard Ltd-Cl A share prices have moved between a 52-week high of $44.95 and a 52-week low of $20.94 and closed yesterday at 18% above that low price at $24.71 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.5% while the 200-day MA has slid 0.4%.

Lazard Ltd-Cl A (NYSE:LAZ) has potential upside of 168.0% based on a current price of $24.71 and analysts' consensus price target of $66.22. The stock should run into initial resistance at its 50-day moving average (MA) of $29.41 and subsequent resistance at its 200-day MA of $35.76.

SmarTrend is tracking the current trend status for Lazard Ltd-Cl A and will alert subscribers who have LAZ in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle lazard ltd-cl a

Ticker(s): LAZ