• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Amkor Tech Inc (NASDAQ:AMKR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Amkor Tech Inc (NASDAQ:AMKR) based on the price action in the company's shares. Today's price range of $9.27 and $9.32 is within yesterday'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 Amkor Tech Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Amkor Tech Inc share prices have been bracketed by a low of $5.72 and a high of $9.79 and are now at $9.31, 63% above that low price. The 200-day and 50-day moving averages have moved 0.89% higher and 1.99% higher over the past week, respectively.

Amkor Technology, Inc. provides semiconductor packaging and test services. The Company offers deep submicron wafer fabrication, wafer probe testing, integrated circuit packaging assembly and design, final testing, reliability testing, burn-in, and electrical characterization.

There is potential upside of 6.5% for shares of Amkor Tech Inc based on a current price of $9.31 and an average consensus analyst price target of $9.92. The stock should discover initial support at its 50-day moving average (MA) of $8.52 and subsequent support at its 200-day MA of $7.97.

SmarTrend recommended that subscribers consider buying shares of Amkor Tech Inc on June 11th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.43. Since that recommendation, shares of Amkor Tech Inc have risen 25.7%. We continue to monitor AMKR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle amkor tech inc

Ticker(s): AMKR