• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Brooks Automatio (NASDAQ:BRKS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Brooks Automatio (NASDAQ:BRKS) based on the price action in the company's shares. Yesterday's price range of $30.12 and $30.68 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 Brooks Automatio may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Brooks Automatio has overhead space with shares priced $30.28, or 16.3% below the average consensus analyst price target of $36.17. The stock should hit resistance at its 200-day moving average (MA) of $31.10, as well as support at its 50-day MA of $30.19.

In the past 52 weeks, shares of Brooks Automatio have traded between a low of $23.02 and a high of $39.75 and closed yesterday at $30.28, which is 32% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

Brooks Automation, Inc. delivers automation solutions to the global semiconductor and related industries. The Company's hardware, factory/tool management software, and professional services can manage every wafer, reticle, and data movement in the Fab. Brooks helps semiconductor manufacturers optimize throughput, yield, and cost reduction.

SmarTrend recommended that subscribers consider buying shares of Brooks Automatio on January 11th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $28.42. Since that recommendation, shares of Brooks Automatio have risen 5.9%. We continue to monitor BRKS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle brooks automatio

Ticker(s): BRKS