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Possible Bullish Inside Day Candle Pattern Detected for Amphenol (NYSE:APH)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Amphenol (NYSE:APH) based on the price action in the company's shares. Yesterday's price range of $58.72 and $59.09 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. Traders and investors interested in shares of Amphenol may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Amphenol share prices have moved between a 52-week high of $60.50 and a 52-week low of $44.50 and closed yesterday at 33% above that low price at $59.03 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

Amphenol (NYSE:APH) is currently priced 0.4% above its average consensus analyst price target of $58.80. Amphenol shares have support at the 50-day moving average (MA) of $56.78 and additional support at the 200-day MA of $53.45.

Amphenol Corporation designs, manufactures, and markets electrical, electronic and fiber optic connectors, interconnect systems, and coaxial and flat-ribbon cable. The Company's products are used in a variety of industries, including telephone, wireless, and data communications systems, cable television systems, and commercial and military aerospace electronics.

SmarTrend is tracking the current trend status for Amphenol and will alert subscribers who have APH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle amphenol

Ticker(s): APH