• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Finisar (NASDAQ:FNSR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Finisar (NASDAQ:FNSR) based on the price action in the company's shares. Today's price range of $27.76 and $28.19 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 Finisar may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 46.1% exists for Finisar, based on a current level of $27.96 and analysts' average consensus price target of $40.85. Finisar shares have support at the 50-day moving average (MA) of $16.88 and additional support at the 200-day MA of $14.30.

Finisar Corporation provides fiber optic subsystems and network performance test systems which enable high-speed data communications over local area network and storage area networks. The Company's line of optical subsystems supports a variety of network applications, transmission speeds, distances, and mediums. Finisar also provides network performance test systems.

Finisar share prices have moved between a 52-week high of $36.85 and a 52-week low of $10.66 and are now trading 162% above that low price at $27.96 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.2%.

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

Keywords: bearish inside day candle finisar

Ticker(s): FNSR