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Possible Bearish Inside Day Candle Pattern Detected for Osi Systems Inc (NASDAQ:OSIS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Osi Systems Inc (NASDAQ:OSIS) based on the price action in the company's shares. Yesterday's price range of $99.96 and $102.01 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 Osi Systems Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Osi Systems Inc share prices have moved between a 52-week high of $102.12 and a 52-week low of $50.50 and closed yesterday at 99% above that low price at $100.57 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.3%.

OSI Systems, Inc. produces medical monitoring and anesthesia systems; security and inspection systems; and lasers, optics, and optoelectronic components. The Company's products include blood pressure monitors, anesthesia machines and hemoglobin saturation monitors; systems for inspecting baggage, people, and vehicles; and lasers, lenses, prisms, and microelectronic components.

Osi Systems Inc (NASDAQ:OSIS) is currently priced 15.3% above its average consensus analyst price target of $85.17. The stock should find initial support at its 50-day moving average (MA) of $87.73 and further support at its 200-day MA of $78.99.

SmarTrend recommended that subscribers consider buying shares of Osi Systems Inc on November 7th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $74.50. Since that recommendation, shares of Osi Systems Inc have risen 37.2%. We continue to monitor OSIS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle osi systems inc

Ticker(s): OSIS