• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Verisign Inc (NASDAQ:VRSN)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Verisign Inc (NASDAQ:VRSN) based on the price action in the company's shares. Yesterday's price range of $213.37 and $216.21 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 Verisign Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Verisign Inc (NASDAQ:VRSN) is currently priced 47.7% above its average consensus analyst price target of $112.00. The stock should find initial support at its 200-day moving average (MA) of $196.32 and further support at its 50-day MA of $190.62.

In the past 52 weeks, Verisign Inc share prices have been bracketed by a low of $148.77 and a high of $221.78 and closed yesterday at $214.23, 44% above that low price. The 200-day and 50-day moving averages have moved 0.03% lower and 0.21% higher over the past week, respectively.

VeriSign, Inc. provides domain names and Internet security services. The Company develops domain names, tools, and registry services. VeriSign also offers security services. VeriSign serves clients worldwide.

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

Keywords: bullish am inside day candle verisign inc

Ticker(s): VRSN