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Possible Bearish Inside Day Candle Pattern Detected for Oxford Immunotec (NASDAQ:OXFD)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Oxford Immunotec (NASDAQ:OXFD) based on the price action in the company's shares. Yesterday's price range of $13.69 and $13.96 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 Oxford Immunotec may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Oxford Immunotec Global PLC is a medical diagnostics company developing new tests for various diseases based on its, patented T cell measurement technology.

Oxford Immunotec has overhead space with shares priced $13.75, or 14.1% below the average consensus analyst price target of $16.00. Oxford Immunotec shares should encounter resistance at the 200-day moving average (MA) of $14.83 and support at the 50-day MA of $13.45.

In the past 52 weeks, shares of Oxford Immunotec have traded between a low of $10.00 and a high of $19.19 and closed yesterday at $13.75, which is 38% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.

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

Keywords: bearish am inside day candle oxford immunotec

Ticker(s): OXFD