• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Cypress Semicon (NASDAQ:CY)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cypress Semicon (NASDAQ:CY) based on the price action in the company's shares. Yesterday's price range of $13.46 and $13.99 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 Cypress Semicon may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Cypress Semicon have traded between a low of $11.75 and a high of $18.87 and closed yesterday at $13.49, which is 15% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.9%.

Cypress Semicon has overhead space with shares priced $13.49, or 31.5% below the average consensus analyst price target of $19.69. The stock should find initial resistance at its 50-day moving average (MA) of $13.89 and further resistance at its 200-day MA of $16.07.

Cypress Semiconductor Corporation designs, develops, manufactures, and markets a line of digital and mixed-signal integrated circuits. The Company's circuits are used in the data communications, telecommunications, computers, and instrumentation systems markets. Cypress products are marketed worldwide through a network of sales offices, distributors, and sales representative firm.

SmarTrend recommended that its subscribers protect gains by selling shares of Cypress Semicon on August 15th, 2018 by issuing a Downtrend alert when the shares were trading at $16.01. Since that call, shares of Cypress Semicon have fallen 12.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle cypress semicon

Ticker(s): CY