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Possible Bearish Inside Day Candle Pattern Detected for Maxim Integrated (NASDAQ:MXIM)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Maxim Integrated (NASDAQ:MXIM) based on the price action in the company's shares. Today's price range of $56.00 and $56.00 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 Maxim Integrated may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Maxim Integrated Products, Inc. designs, develops, manufactures, and markets linear and mixed-signal integrated circuits. The Company offers switching regulators, battery management, amplifiers, data converters, filters, opticals, and memory products. Maxim Integrated Products serves customers globally.

Maxim Integrated (NASDAQ:MXIM) has potential upside of 7.5% based on a current price of $56.00 and analysts' consensus price target of $60.19. Maxim Integrated shares should encounter resistance at the 50-day moving average (MA) of $56.48 and support at its 200-day MA of $54.81.

In the past 52 weeks, shares of Maxim Integrated have traded between a low of $46.64 and a high of $74.94 and are now at $56.00, which is 20% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

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

Keywords: bearish inside day candle maxim integrated

Ticker(s): MXIM