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Possible Bearish Inside Day Candle Pattern Detected for Tandem Diabetes (NASDAQ:TNDM)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tandem Diabetes (NASDAQ:TNDM) based on the price action in the company's shares. Yesterday's price range of $59.95 and $61.38 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 Tandem Diabetes may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Tandem Diabetes share prices have moved between a 52-week high of $74.81 and a 52-week low of $26.40 and closed yesterday at 130% above that low price at $60.73 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has risen 0.4%.

Tandem Diabetes (NASDAQ:TNDM) is currently priced 84.7% above its average consensus analyst price target of $9.30. The stock should find initial resistance at its 50-day moving average (MA) of $61.36 and further resistance at its 200-day MA of $61.95.

Tandem Diabetes Care, Inc. produces medical devices. The Company designs, develops, and commercializes products for people with insulin-dependent diabetes. Tandem Diabetes Care offers its products to the medical industry in the United States.

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

Keywords: bearish am inside day candle tandem diabetes

Ticker(s): TNDM