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

By Amy Schwartz

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 $22.35 and $23.14 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.

Cohu, Inc. designs, manufactures, and sells semiconductor test handling equipment to semiconductor manufacturers throughout the world. The Company also manufactures closed circuit television, metal detection, and microwave equipment.

In the past 52 weeks, shares of Cohu Inc have traded between a low of $18.56 and a high of $27.83 and closed yesterday at $22.71, which is 22% above that low price. The 200-day and 50-day moving averages have moved 0.18% lower and 0.36% lower over the past week, respectively.

There is potential upside of 27.7% for shares of Cohu Inc based on a current price of $22.71 and an average consensus analyst price target of $29.00. The stock should run into initial resistance at its 200-day moving average (MA) of $23.53 and subsequent resistance at its 50-day MA of $25.59.

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