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Possible Bearish Inside Day Candle Pattern Detected for Interdigital Inc (NASDAQ:IDCC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Interdigital Inc (NASDAQ:IDCC) based on the price action in the company's shares. Yesterday's price range of $49.63 and $50.42 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 Interdigital Inc 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 85.4% exists for Interdigital Inc, based on a current level of $49.63 and analysts' average consensus price target of $92.00. The stock should find initial resistance at its 50-day moving average (MA) of $61.70 and further resistance at its 200-day MA of $67.69.

InterDigital, Inc. designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G and IEEE 802-related products and networks.

Interdigital Inc share prices have moved between a 52-week high of $85.85 and a 52-week low of $47.65 and closed yesterday at 4% above that low price at $49.63 per share. The 200-day and 50-day moving averages have moved 0.45% lower and 1.55% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Interdigital Inc on May 23rd, 2019 by issuing a Downtrend alert when the shares were trading at $65.01. Since that call, shares of Interdigital Inc have fallen 22.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle interdigital inc

Ticker(s): IDCC