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

By Amy Schwartz

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. Today's price range of $35.63 and $35.63 is within yesterday'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.

Cray Inc share prices have moved between a 52-week high of $36.15 and a 52-week low of $18.76 and are now trading 90% above that low price at $35.63 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.3% while the 200-day MA has risen 0.6%.

Based on a current price of $35.63, Cray Inc is currently 5.5% above its average consensus analyst price target of $33.67. The stock should find initial support at its 50-day moving average (MA) of $26.82 and further support at its 200-day MA of $23.47.

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 inside day candle cray inc

Ticker(s): CRAY