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Possible Bullish Inside Day Candle Pattern Detected for Bio-Rad Labs-A (NYSE:BIO)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Bio-Rad Labs-A (NYSE:BIO) based on the price action in the company's shares. Yesterday's price range of $322.84 and $327.13 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 Bio-Rad Labs-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Bio-Rad Laboratories, Inc. operates a chain of laboratories. The Company manufacturers and distributes life science research products, clinical diagnostics, and analytical instrumentation. Bio-Rad Laboratories products and systems separate complex chemical and biological materials, as well as identify, analyze, and purify their components.

In the past 52 weeks, Bio-Rad Labs-A share prices have been bracketed by a low of $220.05 and a high of $348.39 and closed yesterday at $323.33, 47% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has remained constant.

Bio-Rad Labs-A (NYSE:BIO) has potential upside of 1.3% based on a current price of $323.33 and analysts' consensus price target of $327.50. Bio-Rad Labs-A shares should encounter resistance at the 50-day moving average (MA) of $331.86 and support at its 200-day MA of $298.26.

SmarTrend is tracking the current trend status for Bio-Rad Labs-A and will alert subscribers who have BIO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle bio-rad labs-a

Ticker(s): BIO