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Possible Bullish Inside Day Candle Pattern Detected for Avx Corp (NYSE:AVX)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Avx Corp (NYSE:AVX) based on the price action in the company's shares. Yesterday's price range of $16.48 and $16.63 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 Avx Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Avx Corp has traded in a range of $14.21 to $21.48 and closed yesterday at $16.63, 17% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

AVX Corporation manufactures and supplies a variety of passive electronic components and related products. The Company's products include ceramic and tantalum capacitors which are used in many electronic products to store, filter, and regulate electric energy. AVX's customers include original equipment manufacturers in various industries.

Avx Corp (NYSE:AVX) is currently priced 3.0% above its average consensus analyst price target of $16.12. Avx Corp shares should first meet resistance at the 200-day moving average (MA) of $17.69 and find additional resistance at the 50-day MA of $18.07.

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

Keywords: bullish am inside day candle avx corp

Ticker(s): AVX