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Possible Bearish Inside Day Candle Pattern Detected for Kla-Tencor Corp (NASDAQ:KLAC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kla-Tencor Corp (NASDAQ:KLAC) based on the price action in the company's shares. Today's price range of $107.92 and $109.78 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 Kla-Tencor Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Kla-Tencor Corp have traded between a low of $66.88 and a high of $123.96 and are now at $108.32, which is 62% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

KLA-Tencor Corporation manufactures yield management and process monitoring systems for the semiconductor industry. The Company's systems are used to analyze product and process quality at critical steps in the manufacture of circuits and provide feedback so that fabrication problems can be identified. KLA-Tencor operates sales, service, and application centers worldwide.

Kla-Tencor Corp has overhead space with shares priced $108.32, or 17.5% below the average consensus analyst price target of $131.33. The stock should hit resistance at its 50-day moving average (MA) of $109.80, as well as support at its 200-day MA of $108.23.

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

Keywords: bearish inside day candle kla-tencor corp

Ticker(s): KLAC