• Return to Headlines

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

By Nick Russo

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 $40.17 and $40.27 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.

Over the past year, Dentsply Sirona has traded in a range of $33.93 to $68.47 and closed yesterday at $40.11, 18% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.9%.

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.

There is potential upside of 45.0% for shares of Dentsply Sirona based on a current price of $40.11 and an average consensus analyst price target of $58.15. The stock should find resistance at its 200-day moving average (MA) of $41.63, as well as support at its 50-day MA of $37.10.

SmarTrend is monitoring the recent change of momentum in Dentsply Sirona. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Dentsply Sirona in search of a potential trend change.

Keywords: bearish am inside day candle dentsply sirona

Ticker(s): XRAY