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Possible Bullish Inside Day Candle Pattern Detected for Badger Meter Inc (NYSE:BMI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Badger Meter Inc (NYSE:BMI) based on the price action in the company's shares. Yesterday's price range of $57.49 and $57.82 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 Badger Meter Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Badger Meter Inc (NYSE:BMI) defies analysts with a current price ($57.77) 28.5% above its average consensus price target of $41.33. Badger Meter Inc shares have support at the 50-day moving average (MA) of $57.75 and additional support at the 200-day MA of $53.09.

Badger Meter, Inc. manufactures and markets flow measurement and control products. The Company's products are used to measure and control the flow of liquids and gases in a variety of applications. Badger's products include water meters and associated systems, wastewater meters, industrial process meters, automotive fluid meters, small valves, and natural gas instruments.

Badger Meter Inc share prices have moved between a 52-week high of $61.57 and a 52-week low of $41.00 and closed yesterday at 41% above that low price at $57.77 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.4%.

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

Keywords: bullish am inside day candle badger meter inc

Ticker(s): BMI