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Possible Bearish Inside Day Candle Pattern Detected for Calix Inc (NYSE:CALX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Calix Inc (NYSE:CALX) based on the price action in the company's shares. Yesterday's price range of $6.37 and $6.49 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 Calix Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Calix Inc share prices have moved between a 52-week high of $11.30 and a 52-week low of $5.60 and closed yesterday at 14% above that low price at $6.41 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 0.8%.

Calix Inc has overhead space with shares priced $6.41, or 19.5% below the average consensus analyst price target of $7.96. Calix Inc shares should encounter resistance at the 200-day moving average (MA) of $7.65 and support at the 50-day MA of $6.31.

Calix, Inc. provides communications access systems and software that enable communications service providers, or CSPs, to connect to their residential and business subscribers. The Company's products encompass its multiservice, multiprotocol access platform and its ethernet service access platforms.

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

Keywords: bearish am inside day candle calix inc

Ticker(s): CALX