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Possible Bullish Inside Day Candle Pattern Detected for Digi Intl Inc (NASDAQ:DGII)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Digi Intl Inc (NASDAQ:DGII) based on the price action in the company's shares. Yesterday's price range of $13.06 and $13.28 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 Digi Intl 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, shares of Digi Intl Inc have traded between a low of $9.28 and a high of $14.70 and closed yesterday at $13.14, which is 42% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.8% while the 200-day MA has risen 0.4%.

There is potential upside of 12.6% for shares of Digi Intl Inc based on a current price of $13.14 and an average consensus analyst price target of $14.80. Digi Intl Inc shares have support at the 50-day moving average (MA) of $12.60 and additional support at the 200-day MA of $12.20.

Digi International Inc. provides communications adapters that enable open systems and server-based applications. The Company also produces local area networking products. Digi markets its products through a global network of distributors, systems integrators, value added resellers, and original equipment manufacturers.

SmarTrend recommended that subscribers consider buying shares of Digi Intl Inc on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.63. Since that recommendation, shares of Digi Intl Inc have risen 13.0%. We continue to monitor DGII for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle digi intl inc

Ticker(s): DGII