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

By David Diaz

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. Today's price range of $84.15 and $84.75 is within yesterday'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.

Ptc Inc (NASDAQ:PTC) defies analysts with a current price ($84.37) 12.4% above its average consensus price target of $73.93. The stock should discover initial support at its 200-day moving average (MA) of $33.60 and subsequent support at its 50-day MA of $33.23.

PTC Inc. develops and delivers technology solutions, comprised of software and services. The Company's technology is primarily used by discrete manufacturers to design, operate, and maintain complex products. PTC's technology is also used to connect products to the Internet for purposes of capturing and analyzing information from them.

In the past 52 weeks, Ptc Inc share prices have been bracketed by a low of $34.68 and a high of $86.49 and are now at $84.37, 143% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 0.2%.

SmarTrend recommended that subscribers consider buying shares of Ptc Inc on February 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $73.32. Since that recommendation, shares of Ptc Inc have risen 15.8%. We continue to monitor PTC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle ptc inc

Ticker(s): PTC