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Possible Bullish Inside Day Candle Pattern Detected for Calix (NYSE:CALX)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Calix (NYSE:CALX) based on the price action in the company's shares. Yesterday's price range of $6.41 and $6.63 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 Calix may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Calix share prices have moved between a 52-week high of $9.07 and a 52-week low of $5.64 and closed yesterday at 15% above that low price at $6.51 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

Calix, Inc. provides communications access systems and software that enable communications service providers, or CSPs, to connect to their residential and business subscribers. The Company's products encompass its multiservice, multiprotocol access platform and its Ethernet service access platforms.

Calix (NYSE:CALX) has potential upside of 44.4% based on a current price of $6.51 and analysts' consensus price target of $9.40. The stock should run into initial resistance at its 50-day moving average (MA) of $6.97 and subsequent resistance at its 200-day MA of $7.43.

SmarTrend recommended that its subscribers protect gains by selling shares of Calix on October 30th, 2015 by issuing a Downtrend alert when the shares were trading at $6.95. Since that call, shares of Calix have fallen 8.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle calix

Ticker(s): CALX