Possible Bearish Inside Day Candle Pattern Detected for Kla-Tencor (NASDAQ:KLAC)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kla-Tencor (NASDAQ:KLAC) based on the price action in the company's shares. Yesterday's price range of $73.67 and $74.61 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 Kla-Tencor 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, Kla-Tencor share prices have been bracketed by a low of $44.95 and a high of $77.85 and closed yesterday at $74.56, 66% above that low price. The 200-day and 50-day moving averages have moved 0.56% higher and 0.41% higher over the past week, respectively.
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 (NASDAQ:KLAC) is currently priced 11.3% above its average consensus analyst price target of $66.11. The stock should find initial support at its 50-day moving average (MA) of $70.79 and further support at its 200-day MA of $62.58.
SmarTrend is tracking the current trend status for Kla-Tencor and will alert subscribers who have KLAC in their portfolio or watchlist when shares have changed trend direction.
Keywords: bearish am inside day candle kla-tencor