• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Mks Instruments (NASDAQ:MKSI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Mks Instruments (NASDAQ:MKSI) based on the price action in the company's shares. Yesterday's price range of $90.50 and $92.22 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 Mks Instruments may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 52.0% exists for Mks Instruments, based on a current level of $90.77 and analysts' average consensus price target of $138.00. The stock should discover initial support at its 200-day moving average (MA) of $83.06 and subsequent support at its 50-day MA of $81.32.

MKS Instruments, Inc. develops, manufactures, and supplies instruments and components used to control and analyze gases in semiconductor manufacturing and similar industrial manufacturing processes. The Company's products are used to manufacture flat panel displays, magnetic and optical storage devices and media, solar cells, fiber optic cables, and diamond thin films.

Over the past year, Mks Instruments has traded in a range of $56.37 to $128.28 and closed yesterday at $90.77, 61% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 2.8%.

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

Keywords: bearish am inside day candle mks instruments

Ticker(s): MKSI