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Possible Bearish Inside Day Candle Pattern Detected for Dexcom (NASDAQ:DXCM)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dexcom (NASDAQ:DXCM) based on the price action in the company's shares. Yesterday's price range of $153.59 and $156.82 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 Dexcom may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Dexcom share prices have moved between a 52-week high of $178.35 and a 52-week low of $85.76 and closed yesterday at 81% above that low price at $154.99 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has remained constant.

DexCom, Inc., a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally.

Dexcom (NASDAQ:DXCM) is currently priced 47.6% above its average consensus analyst price target of $81.25. Dexcom shares should encounter resistance at the 50-day moving average (MA) of $156.52 and support at its 200-day MA of $137.70.

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

Keywords: bearish am inside day candle dexcom

Ticker(s): DXCM