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

By David Diaz

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 $55.99 and $56.13 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 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 share prices have moved between a 52-week high of $67.50 and a 52-week low of $42.14 and are now trading 33% above that low price at $55.99 per share. The 200-day and 50-day moving averages have moved 0.29% lower and 1.82% higher over the past week, respectively.

Integra Lifescie has overhead space with shares priced $55.99, or 11.0% below the average consensus analyst price target of $62.91. Integra Lifescie shares should encounter resistance at the 200-day moving average (MA) of $57.15 and support at the 50-day MA of $49.85.

SmarTrend recommended that subscribers consider buying shares of Integra Lifescie on February 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $48.50. Since that recommendation, shares of Integra Lifescie have risen 15.8%. We continue to monitor IART for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle integra lifescie

Ticker(s): IART