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Possible Bearish Inside Day Candle Pattern Detected for Infinera Corp (NASDAQ:INFN)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Infinera Corp (NASDAQ:INFN) based on the price action in the company's shares. Yesterday's price range of $5.50 and $5.83 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 Infinera Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Infinera Corp has overhead space with shares priced $5.74, or 49.6% below the average consensus analyst price target of $11.38. Infinera Corp shares have support at the 50-day moving average (MA) of $5.44 and additional support at the 200-day MA of $4.43.

Infinera Corporation manufactures digital optical telecommunications equipment. The Company uses photonic integrated circuits to create digital optical networks. Infinera markets its products to carriers, data service providers, and cable operators.

In the past 52 weeks, shares of Infinera Corp have traded between a low of $2.80 and a high of $12.39 and closed yesterday at $5.74, which is 105% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.6%.

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

Keywords: bearish am inside day candle infinera corp

Ticker(s): INFN