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Possible Bullish Inside Day Candle Pattern Detected for Entegris (NASDAQ:ENTG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Entegris (NASDAQ:ENTG) based on the price action in the company's shares. Today's price range of $25.00 and $25.40 is within yesterday'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 Entegris may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Entegris has traded in a range of $10.37 to $27.20 and is now at $25.00, 141% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.

Entegris Inc. provides materials management products and services to the microelectronics industry on a worldwide basis. The Company provides products such as wafer shippers, wafer transport and process carriers, pods, and work-in-process boxes. Entegris also provides chemical delivery products such as valves, fittings, tubing, pipe, and containers.

Entegris (NASDAQ:ENTG) defies analysts with a current price ($25.00) 8.7% above its average consensus price target of $22.83. The stock should discover initial support at its 50-day moving average (MA) of $13.18 and subsequent support at its 200-day MA of $13.09.

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

Keywords: bullish inside day candle entegris

Ticker(s): ENTG