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Possible Bearish Inside Day Candle Pattern Detected for Astronics Corp (NASDAQ:ATRO)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Astronics Corp (NASDAQ:ATRO) based on the price action in the company's shares. Yesterday's price range of $39.13 and $39.65 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 Astronics Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 9.2% for shares of Astronics Corp based on a current price of $39.47 and an average consensus analyst price target of $43.10. Astronics Corp shares have support at the 200-day moving average (MA) of $34.98 and additional support at the 50-day MA of $32.89.

Astronics Corporation designs, manufactures, and markets specialized lighting, control systems, and electronics for the cockpit, cabin, and exteriors of military, commercial jet, and general aviation aircraft.

Astronics Corp share prices have moved between a 52-week high of $46.56 and a 52-week low of $27.56 and closed yesterday at 43% above that low price at $39.47 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of Astronics Corp on April 1st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.66. Since that recommendation, shares of Astronics Corp have risen 17.3%. We continue to monitor ATRO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle astronics corp

Ticker(s): ATRO