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Possible Bullish Inside Day Candle Pattern Detected for Quest Diagnostic (NYSE:DGX)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Quest Diagnostic (NYSE:DGX) based on the price action in the company's shares. Yesterday's price range of $102.43 and $103.58 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 Quest Diagnostic may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Quest Diagnostic (NYSE:DGX) has potential upside of 7.1% based on a current price of $103.25 and analysts' consensus price target of $110.53. The stock should find initial support at its 50-day moving average (MA) of $103.13 and further support at its 200-day MA of $95.25.

Quest Diagnostic share prices have moved between a 52-week high of $107.97 and a 52-week low of $78.95 and closed yesterday at 31% above that low price at $103.25 per share. The 200-day and 50-day moving averages have moved 0.33% higher and 0.05% higher over the past week, respectively.

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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

Keywords: bullish am inside day candle quest diagnostic

Ticker(s): DGX