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Possible Bearish Inside Day Candle Pattern Detected for Plantronics Inc (NYSE:PLT)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Plantronics Inc (NYSE:PLT) based on the price action in the company's shares. Yesterday's price range of $34.58 and $36.27 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 Plantronics Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Plantronics Inc (NYSE:PLT) has potential upside of 93.3% based on a current price of $36.22 and analysts' consensus price target of $70.00. The stock should hit resistance at its 200-day moving average (MA) of $41.51, as well as support at its 50-day MA of $33.35.

Plantronics, Inc. designs, manufactures, and markets lightweight communications headsets and headset accessories and services. The Company also manufactures and markets specialty telephone products, such as amplified telephone headsets and specialty telephones for hearing-impaired users, and noise-cancelling headsets for use in high-noise environments.

In the past 52 weeks, shares of Plantronics Inc have traded between a low of $26.09 and a high of $64.83 and closed yesterday at $36.22, which is 39% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 1.2%.

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

Keywords: bearish am inside day candle plantronics inc

Ticker(s): PLT