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Possible Bearish Inside Day Candle Pattern Detected for Integra Lifescie (NASDAQ:IART)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Integra Lifescie (NASDAQ:IART) based on the price action in the company's shares. Today's price range of $52.61 and $52.61 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 Integra Lifescie may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Integra Lifescie share prices have moved between a 52-week high of $67.50 and a 52-week low of $42.14 and are now trading 25% above that low price at $52.61 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.3%.

Integra LifeSciences Holdings Corp develops, manufactures, and markets medical devices, implants, and biomaterials. The Company's products are primarily used in the treatment of burns and skin defects, spinal and cranial disorders, orthopedics, and other surgical applications.

Integra Lifescie has overhead space with shares priced $52.61, or 16.4% below the average consensus analyst price target of $62.91. The stock should find initial resistance at its 50-day moving average (MA) of $54.22 and further resistance at its 200-day MA of $55.73.

SmarTrend is monitoring the recent change of momentum in Integra Lifescie. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Integra Lifescie in search of a potential trend change.

Keywords: bearish inside day candle integra lifescie

Ticker(s): IART