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Possible Bearish Inside Day Candle Pattern Detected for Glaukos Corp (NYSE:GKOS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Glaukos Corp (NYSE:GKOS) based on the price action in the company's shares. Yesterday's price range of $41.85 and $43.20 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 Glaukos Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Glaukos Corp (NYSE:GKOS) defies analysts with a current price ($42.13) 7.4% above its average consensus price target of $39.00. Glaukos Corp shares have support at the 50-day moving average (MA) of $38.71 and additional support at the 200-day MA of $32.37.

Glaukos Corporation operates as an ophthalmic medical technology company. The Company develops, manufactures, and markets medical devices for the treatment of glaucoma. Glaukos offers micro-scale injectable therapies designed to address the complete range of glaucoma disease states and progression.

Over the past year, Glaukos Corp has traded in a range of $23.07 to $45.00 and closed yesterday at $42.13, 83% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.2% while the 200-day MA has risen 0.8%.

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

Keywords: bearish am inside day candle glaukos corp

Ticker(s): GKOS