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Possible Bearish Inside Day Candle Pattern Detected for Ptc Inc (NASDAQ:PTC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ptc Inc (NASDAQ:PTC) based on the price action in the company's shares. Yesterday's price range of $71.66 and $72.92 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 Ptc Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Ptc Inc has traded in a range of $62.05 to $102.47 and closed yesterday at $71.77, 16% above that low. The 200-day and 50-day moving averages have moved 0.28% lower and 0.42% higher over the past week, respectively.

There is potential upside of 20.4% for shares of Ptc Inc based on a current price of $71.77 and an average consensus analyst price target of $86.38. The stock should find resistance at its 200-day moving average (MA) of $81.51, as well as support at its 50-day MA of $66.44.

PTC Inc. operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

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

Keywords: bearish am inside day candle ptc inc

Ticker(s): PTC