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Possible Bearish Inside Day Candle Pattern Detected for Natl Instruments (NASDAQ:NATI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Natl Instruments (NASDAQ:NATI) based on the price action in the company's shares. Yesterday's price range of $43.53 and $44.21 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 Natl Instruments may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

National Instruments Corporation supplies computer-based instrumentation hardware and software products for engineers and scientists. The Company provides flexible application software and modular hardware that users combine with computers, networks, and the internet to create computer-based measurement and automation systems.

Natl Instruments (NASDAQ:NATI) has potential upside of 1.8% based on a current price of $44.20 and analysts' consensus price target of $45.00. Natl Instruments shares should first meet resistance at the 50-day moving average (MA) of $44.25 and find additional resistance at the 200-day MA of $45.16.

Over the past year, Natl Instruments has traded in a range of $38.25 to $53.57 and closed yesterday at $44.20, 16% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

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

Keywords: bearish am inside day candle natl instruments

Ticker(s): NATI