• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Cray Inc (NASDAQ:CRAY)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cray Inc (NASDAQ:CRAY) based on the price action in the company's shares. Yesterday's price range of $25.70 and $26.45 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 Cray Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cray, Inc. designs, develops, manufactures, markets, and services high performance computing systems commonly known as supercomputers. The Company's products provides sustained performance on critical applications, scalability to handle larger problems, and the reliability to run jobs to completion.

Over the past year, Cray Inc has traded in a range of $17.60 to $28.60 and closed yesterday at $25.75, 46% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has declined 0.8%.

There is potential upside of 30.7% for shares of Cray Inc based on a current price of $25.75 and an average consensus analyst price target of $33.67. Cray Inc shares should encounter resistance at the 50-day moving average (MA) of $26.00 and support at its 200-day MA of $23.32.

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

Keywords: bearish am inside day candle cray inc

Ticker(s): CRAY