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Possible Bearish Inside Day Candle Pattern Detected for Dentsply Sirona (NASDAQ:XRAY)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dentsply Sirona (NASDAQ:XRAY) based on the price action in the company's shares. Yesterday's price range of $54.50 and $55.32 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 Dentsply Sirona may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Dentsply Sirona Inc. manufactures and distributes dental supplies on a worldwide basis. The Company's products include dental prosthetics, endodontic instruments, dental sealants, ultrasonic scalers, dental x-ray equipment, and intraoral cameras. Dentsply also provides impression materials, orthodontic appliances, and dental operatory software systems and other dental products.

In the past 52 weeks, shares of Dentsply Sirona have traded between a low of $33.93 and a high of $59.40 and closed yesterday at $54.78, which is 61% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.6%.

Dentsply Sirona has overhead space with shares priced $54.78, or 5.8% below the average consensus analyst price target of $58.15. The stock should discover initial support at its 50-day moving average (MA) of $52.73 and subsequent support at its 200-day MA of $51.56.

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

Keywords: bearish am inside day candle dentsply sirona

Ticker(s): XRAY