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Possible Bearish Inside Day Candle Pattern Detected for Masimo Corp (NASDAQ:MASI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Masimo Corp (NASDAQ:MASI) based on the price action in the company's shares. Yesterday's price range of $133.67 and $136.79 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 Masimo Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Masimo Corp (NASDAQ:MASI) is currently priced 22.6% above its average consensus analyst price target of $103.50. The stock should discover initial support at its 50-day moving average (MA) of $126.87 and subsequent support at its 200-day MA of $113.99.

Masimo Corp share prices have moved between a 52-week high of $137.70 and a 52-week low of $81.56 and closed yesterday at 64% above that low price at $133.68 per share. The 200-day and 50-day moving averages have moved 0.74% higher and 2.24% higher over the past week, respectively.

Masimo Corporation designs, develops, and licenses medical signal processing and sensor technology for the non-invasive monitoring of physiological parameters. The Company's products are designed to improve the effectiveness of pulse oximetry by overcoming the inability of current monitors to precisely measure the levels of arterial blood oxygen saturation and low arterial blood flow.

SmarTrend recommended that subscribers consider buying shares of Masimo Corp on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $110.35. Since that recommendation, shares of Masimo Corp have risen 21.1%. We continue to monitor MASI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle masimo corp

Ticker(s): MASI