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Possible Bullish Inside Day Candle Pattern Detected for Cohu Inc (NASDAQ:COHU)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cohu Inc (NASDAQ:COHU) based on the price action in the company's shares. Yesterday's price range of $16.30 and $16.69 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 Cohu 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.

In the past 52 weeks, Cohu Inc share prices have been bracketed by a low of $14.08 and a high of $27.83 and closed yesterday at $16.67, 18% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.4%.

Potential upside of 74.0% exists for Cohu Inc, based on a current level of $16.67 and analysts' average consensus price target of $29.00. The stock should find resistance at its 200-day moving average (MA) of $19.20, as well as support at its 50-day MA of $15.58.

Cohu, Inc., through its subsidiaries, engages in the development, manufacture, sale, and servicing of semiconductor test and inspection handlers, micro-electro mechanical system (MEMS) test modules, test contactors, and thermal sub-systems for semiconductor manufacturers and test subcontractors worldwide.

SmarTrend is monitoring the recent change of momentum in Cohu Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cohu Inc in search of a potential trend change.

Keywords: bullish am inside day candle cohu inc

Ticker(s): COHU