Analysts have spotted a possible bearish inside day candle pattern in Tetra Tech (NASDAQ:TTEK) based on the price action in the company's shares. Yesterday's price range of $30.08 and $30.29 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 Tetra Tech may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
Tetra Tech has overhead space with shares priced $30.33, or 9.1% below the average consensus analyst price target of $33.38. The stock should discover initial support at its 50-day moving average (MA) of $28.70 and subsequent support at its 200-day MA of $26.64.
Tetra Tech, Inc. provides specialized management consulting and technical services primarily in resource management, infrastructure, and communications. The Company's clients include a diverse base of public and private sector organizations. Tetra Tech operates offices in the United States and internationally.
In the past 52 weeks, shares of Tetra Tech have traded between a low of $23.70 and a high of $30.43 and closed yesterday at $30.33, which is 28% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.2%.