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Possible Bearish Inside Day Candle Pattern Detected for NxStage Medical (NASDAQ:NXTM)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in NxStage Medical (NASDAQ:NXTM) based on the price action in the company's shares. Yesterday's price range of $26.61 and $26.97 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 NxStage Medical may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

NxStage Medical, Inc. is medical device company that develops, manufactures, and markets systems for the treatment of end-stage renal disease, or ESRD, and acute kidney failure. The Company's primary product, the NxStage System One, is a small, portable hemodialysis system.

In the past 52 weeks, shares of NxStage Medical have traded between a low of $13.47 and a high of $29.99 and closed yesterday at $26.80, which is 99% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.2%.

NxStage Medical (NASDAQ:NXTM) has potential upside of 21.0% based on a current price of $26.80 and analysts' consensus price target of $32.43. NxStage Medical shares have support at the 200-day moving average (MA) of $17.15 and additional support at the 50-day MA of $15.27.

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

Keywords: bearish am inside day candle nxstage medical

Ticker(s): NXTM