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Possible Bearish Inside Day Candle Pattern Detected for Intersect Ent In (NASDAQ:XENT)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Intersect Ent In (NASDAQ:XENT) based on the price action in the company's shares. Yesterday's price range of $27.16 and $27.69 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 Intersect Ent In may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Intersect Ent In has overhead space with shares priced $27.48, or 38.4% below the average consensus analyst price target of $44.62. The stock should run into initial resistance at its 200-day moving average (MA) of $29.72 and subsequent resistance at its 50-day MA of $31.31.

Intersect ENT, Inc. manufactures medical devices. The Company offers products and therapies for ear, nose, and throat surgeons to improve treatment for their patients with chronic diseases. Intersect ENT serves doctors and patients throughout the United States.

In the past 52 weeks, shares of Intersect Ent In have traded between a low of $24.39 and a high of $42.95 and closed yesterday at $27.48, which is 13% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 2.1%.

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

Keywords: bearish am inside day candle intersect ent in

Ticker(s): XENT