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Possible Bearish Inside Day Candle Pattern Detected for A10 Networks Inc (NYSE:ATEN)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in A10 Networks Inc (NYSE:ATEN) based on the price action in the company's shares. Yesterday's price range of $6.59 and $6.75 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 A10 Networks Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

A10 Networks Inc has overhead space with shares priced $6.65, or 21.8% below the average consensus analyst price target of $8.50. A10 Networks Inc shares should encounter resistance at the 200-day moving average (MA) of $6.81 and support at the 50-day MA of $6.28.

A10 Networks Inc. provides computer networking products and security solutions. The Company offers controller, firewall, hardware appliances, protection systems, and other networking products. A10 Networks serves customers worldwide.

Over the past year, A10 Networks Inc has traded in a range of $5.63 to $8.85 and closed yesterday at $6.65, 18% above that low. The 200-day and 50-day moving averages have moved 0.04% higher and 0.71% higher over the past week, respectively.

SmarTrend is tracking the current trend status for A10 Networks Inc and will alert subscribers who have ATEN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle a10 networks inc

Ticker(s): ATEN