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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 $7.82 and $8.01 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. 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.

There is potential upside of 1.5% for shares of Calix Inc based on a current price of $7.84 and an average consensus analyst price target of $7.96. The stock should discover initial support at its 50-day moving average (MA) of $7.05 and subsequent support at its 200-day MA of $6.92.

In the past 52 weeks, shares of Calix Inc have traded between a low of $5.60 and a high of $11.30 and closed yesterday at $7.84, which is 40% above that low price. The 200-day and 50-day moving averages have moved 0.06% higher and 1.21% higher over the past week, respectively.

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