Possible Bearish Inside Day Candle Pattern Detected for NYSE Euronext (NYSE:NYX)

Print Share

Jan 08, 2013 (Candlestick via COMTEX) -- Analysts have spotted a possible bearish inside day candle pattern in NYSE Euronext (NYSE:NYX) based on the price action in the company's shares. Yesterday's price range of $32.33 and $32.68 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. Owners of NYSE Euronext may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.NYSE Euronext operates an international stock exchange. The Company operates a marketplace for equities and derivatives in Belgium, France, the Netherlands and Portugal, derivatives in the United Kingdom, and equities and other securities in the United States.

Over the past year, NYSE Euronext has traded in a range of $22.25 to $33.38 and closed yesterday at $32.34, 45% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.9%.

NYSE Euronext (NYSE:NYX) is currently priced 7.1% above its average consensus analyst price target of $30.03. The stock should find initial support at its 200-day moving average (MA) of $25.64 and further support at its 50-day MA of $25.43.

---------------------------------------------------------------------------------------------

Financial News Network Online (FNNO) is a leading provider of digital financial news content for distribution on the web. You can count on FNNO to bring you the latest market news, earnings reports, analyst comments, economic data reports and more. Visit http://www.fnno.com today.

Copyright, Comtex News Network, Inc. 2013

Zacks Research is Reported On:

Zacks Investment Research

is an A+ Rated BBB

Accredited Business.