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Possible Bearish Inside Day Candle Pattern Detected for Amphenol Corp-A (NYSE:APH)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Amphenol Corp-A (NYSE:APH) based on the price action in the company's shares. Yesterday's price range of $80.84 and $81.53 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 Amphenol Corp-A 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, Amphenol Corp-A share prices have been bracketed by a low of $74.95 and a high of $97.56 and closed yesterday at $81.82, 9% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 0.2%.

Potential upside of 18.5% exists for Amphenol Corp-A, based on a current level of $81.82 and analysts' average consensus price target of $96.92. Amphenol Corp-A shares should first meet resistance at the 50-day moving average (MA) of $84.36 and find additional resistance at the 200-day MA of $88.23.

Amphenol Corporation designs, manufactures, and markets electrical, electronic and fiber optic connectors, interconnect systems, and coaxial and flat-ribbon cable. The Company's products are used in a variety of industries, including telephone, wireless, and data communications systems, cable television systems, and commercial and military aerospace electronics.

SmarTrend is tracking the current trend status for Amphenol Corp-A and will alert subscribers who have APH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle amphenol corp-a

Ticker(s): APH