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

By David Diaz

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 $28.27 and $28.46 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 share prices have moved between a 52-week high of $29.93 and a 52-week low of $22.33 and closed yesterday at 27% above that low price at $28.36 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.

NxStage Medical, Inc. is medical device company. The Company develops, manufactures, and markets systems for the treatment of end-stage renal disease and acute kidney failure. NxStage Medical conducts business worldwide.

Nxstage Medical has overhead space with shares priced $28.36, or 5.5% below the average consensus analyst price target of $30.00. Nxstage Medical shares have support at the 50-day moving average (MA) of $26.67 and additional support at the 200-day MA of $25.94.

SmarTrend recommended that subscribers consider buying shares of Nxstage Medical on June 28th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.01. Since that recommendation, shares of Nxstage Medical have risen 13.4%. We continue to monitor NXTM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle nxstage medical

Ticker(s): NXTM