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Possible Bearish Inside Day Candle Pattern Detected for Viavi Solutions (NASDAQ:VIAV)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Viavi Solutions (NASDAQ:VIAV) based on the price action in the company's shares. Today's price range of $13.57 and $13.70 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 Viavi Solutions may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Viavi Solutions Inc. provides network and service enabling solutions and optical products. The Company offers installation, commissioning, scripting, custom analytics, integration, business intelligence consulting, operational assistance, field and lab testing, technical training, maintenance, and support services. Viavi Solutions serves customers worldwide.

Viavi Solutions (NASDAQ:VIAV) is currently priced 10.9% above its average consensus analyst price target of $12.19. Viavi Solutions shares have support at the 50-day moving average (MA) of $12.74 and additional support at the 200-day MA of $11.37.

In the past 52 weeks, shares of Viavi Solutions have traded between a low of $9.17 and a high of $14.00 and are now at $13.68, which is 49% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.4%.

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

Keywords: bearish inside day candle viavi solutions

Ticker(s): VIAV