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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. Yesterday's price range of $37.99 and $38.27 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 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.

In the past 52 weeks, Entegris Inc share prices have been bracketed by a low of $23.39 and a high of $42.01 and closed yesterday at $38.05, 63% above that low price. The 200-day and 50-day moving averages have moved 0.12% higher and 0.35% higher over the past week, respectively.

Entegris Inc (NASDAQ:ENTG) has potential upside of 8.7% based on a current price of $38.05 and analysts' consensus price target of $41.35. Entegris Inc shares have support at the 50-day moving average (MA) of $37.97 and additional support at the 200-day MA of $32.20.

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 am inside day candle entegris inc

Ticker(s): ENTG