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Possible Bearish Inside Day Candle Pattern Detected for Cardiovascular S (NASDAQ:CSII)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cardiovascular S (NASDAQ:CSII) based on the price action in the company's shares. Yesterday's price range of $34.53 and $35.58 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 Cardiovascular S may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cardiovascular Systems, Inc. develops and manufactures a medical device that removes hardened plaque and calcium from arteries.

Based on a current price of $34.71, Cardiovascular S is currently 5.6% above its average consensus analyst price target of $32.75. Cardiovascular S shares have support at the 200-day moving average (MA) of $32.88 and additional support at the 50-day MA of $29.60.

Cardiovascular S share prices have moved between a 52-week high of $40.00 and a 52-week low of $20.89 and closed yesterday at 66% above that low price at $34.71 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Cardiovascular S on January 30th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.51. Since that recommendation, shares of Cardiovascular S have risen 20.7%. We continue to monitor CSII for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle cardiovascular s

Ticker(s): CSII