• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Edwards Life (NYSE:EW)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Edwards Life (NYSE:EW) based on the price action in the company's shares. Yesterday's price range of $232.30 and $233.12 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 Edwards Life 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, Edwards Life share prices have been bracketed by a low of $148.15 and a high of $247.64 and closed yesterday at $236.00, 59% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.4%.

Edwards Life (NYSE:EW) defies analysts with a current price ($236.00) 38.2% above its average consensus price target of $145.89. Edwards Life shares should encounter resistance at the 50-day moving average (MA) of $237.62 and support at its 200-day MA of $209.41.

Edwards Lifesciences Corporation designs, develops, manufactures, and markets products and services to treat late-stage cardiovascular disease. The Company's products include tissue replacement heart valves, heart valve repair products, hemodynamic monitoring devices, angioscopy equipment, oxygenators, and pharmaceuticals. Edwards supplies its products to customers located worldwide.

SmarTrend is tracking the current trend status for Edwards Life and will alert subscribers who have EW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle edwards life

Ticker(s): EW