Possible Bullish Inside Day Candle Pattern Detected for Genpact (NYSE:G)

Published on Mon, 07/13/2015 - 07:19
By Robert Cotter in Candlestick, G, bullish am inside day candle, genpact, nyse:g

Analyzing the price chart for Genpact (NYSE:G) has revealed a potential bullish inside day candle pattern. Yesterday's price range of $21.30 and $21.63 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 Genpact may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Genpact Limited manages business processes for companies around the world. The Company works with companies to help them streamline their business processes.

Genpact has overhead space with shares priced $21.59, or 9.8% below the average consensus analyst price target of $23.93. The stock should find resistance at its 50-day moving average (MA) of $22.23, as well as support at its 200-day MA of $20.43.

In the past 52 weeks, Genpact share prices have been bracketed by a low of $15.70 and a high of $23.82 and closed yesterday at $21.59, 38% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has risen 0.5%.

By Robert Cotter
rcotter@fnno.com

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