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Possible Bearish Inside Day Candle Pattern Detected for Monolithic Power (NASDAQ:MPWR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Monolithic Power (NASDAQ:MPWR) based on the price action in the company's shares. Yesterday's price range of $150.80 and $152.02 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 Monolithic Power 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 Monolithic Power have traded between a low of $101.99 and a high of $152.36 and closed yesterday at $151.57, which is 49% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.0%.

Monolithic Power (NASDAQ:MPWR) is currently priced 12.5% above its average consensus analyst price target of $132.57. Monolithic Power shares have support at the 50-day moving average (MA) of $138.48 and additional support at the 200-day MA of $131.00.

Monolithic Power Systems, Inc. designs and manufactures power management solutions. The Company provides power conversion, LED lighting, load switches, cigarette lighter adapters, chargers, position sensors, analog input, and other electrical components. Monolithic Power Systems serves customers globally.

SmarTrend is tracking the current trend status for Monolithic Power and will alert subscribers who have MPWR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle monolithic power

Ticker(s): MPWR