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Possible Bearish Inside Day Candle Pattern Detected for Ultra Clean Hold (NASDAQ:UCTT)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ultra Clean Hold (NASDAQ:UCTT) based on the price action in the company's shares. Yesterday's price range of $19.69 and $20.33 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 Ultra Clean Hold may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ultra Clean Holdings, Inc. develops and supplies critical subsystems for the semiconductor capital equipment industry, focusing on gas delivery systems. These gas delivery systems enable the precise delivery of specialty gases used in a majority of the key steps in the semiconductor manufacturing process.

Ultra Clean Hold (NASDAQ:UCTT) has potential upside of 66.3% based on a current price of $19.96 and analysts' consensus price target of $33.20. The stock should discover initial support at its 200-day moving average (MA) of $5.57 and subsequent support at its 50-day MA of $5.32.

Over the past year, Ultra Clean Hold has traded in a range of $5.40 to $34.59 and closed yesterday at $19.96, 270% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Ultra Clean Hold on January 30th, 2018 by issuing a Downtrend alert when the shares were trading at $21.35. Since that call, shares of Ultra Clean Hold have fallen 4.6%. 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 ultra clean hold

Ticker(s): UCTT