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Possible Bearish Inside Day Candle Pattern Detected for Entegris Inc (NASDAQ:ENTG)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Entegris Inc (NASDAQ:ENTG) based on the price action in the company's shares. Today's price range of $37.21 and $37.58 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 Entegris Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Entegris Inc. provides materials management products and services to the microelectronics industry on a worldwide basis. The Company provides products such as wafer shippers, wafer transport and process carriers, pods, and work-in-process boxes. Entegris also provides chemical delivery products such as valves, fittings, tubing, pipe, and containers.

Entegris Inc has overhead space with shares priced $37.53, or 9.3% below the average consensus analyst price target of $41.35. Entegris Inc shares have support at the 50-day moving average (MA) of $35.85 and additional support at the 200-day MA of $33.42.

Over the past year, Entegris Inc has traded in a range of $13.41 to $39.55 and is now at $37.53, 180% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.5%.

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

Keywords: bearish inside day candle entegris inc

Ticker(s): ENTG