Possible Bullish Inside Day Candle Pattern Detected for Diebold (NYSE:DBD)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Diebold (NYSE:DBD) based on the price action in the company's shares. Yesterday's price range of $24.47 and $24.87 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 Diebold may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Diebold, Incorporated provides integrated self-service delivery systems and services on a worldwide basis. The Company serves the financial, security, election systems, retail, card systems, and pharmacy industries. Diebold provides products such as automated teller machines, alarm monitoring systems, monitoring software, card-based systems, and election systems.
Over the past year, Diebold has traded in a range of $22.84 to $38.94 and closed yesterday at $24.79, 9% above that low. The 200-day and 50-day moving averages have moved 0.6% lower and 0.23% higher over the past week, respectively.
Diebold (NYSE:DBD) has potential upside of 62.0% based on a current price of $24.79 and analysts' consensus price target of $40.17. Diebold shares should first meet resistance at the 50-day moving average (MA) of $26.72 and find additional resistance at the 200-day MA of $30.23.
SmarTrend recommended that its subscribers protect gains by selling shares of Diebold on September 9th, 2016 by issuing a Downtrend alert when the shares were trading at $26.30. Since that call, shares of Diebold have fallen 5.7%. 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 diebold