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Possible Bearish Inside Day Candle Pattern Detected for Pdf Solutions (NASDAQ:PDFS)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Pdf Solutions (NASDAQ:PDFS) based on the price action in the company's shares. Yesterday's price range of $12.09 and $12.37 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 Pdf Solutions may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Pdf Solutions have traded between a low of $9.62 and a high of $20.10 and closed yesterday at $12.11, which is 26% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.2%.

Pdf Solutions (NASDAQ:PDFS) has potential upside of 30.7% based on a current price of $12.11 and analysts' consensus price target of $15.83. The stock should hit resistance at its 200-day moving average (MA) of $14.14, as well as support at its 50-day MA of $11.60.

PDF Solutions, Inc. provides infrastructure technologies and services to optimize performance and improve yield of manufactured integrated circuits. The Company provides its services and technologies to integrated device manufacturers such as Toshiba Corporation and Texas Instruments Incorporated.

SmarTrend recommended that its subscribers protect gains by selling shares of Pdf Solutions on January 19th, 2018 by issuing a Downtrend alert when the shares were trading at $15.16. Since that call, shares of Pdf Solutions have fallen 18.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle pdf solutions

Ticker(s): PDFS