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Possible Bullish Inside Day Candle Pattern Detected for Flir Systems (NASDAQ:FLIR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Flir Systems (NASDAQ:FLIR) based on the price action in the company's shares. Yesterday's price range of $37.29 and $37.56 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 Flir Systems 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 Flir Systems have traded between a low of $28.26 and a high of $38.95 and closed yesterday at $37.41, which is 32% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

FLIR Systems, Inc. designs, manufactures, and markets thermal imaging and broadcast camera systems for a variety of applications in the commercial and government markets. The Company makes products for condition monitoring, research and development, airborne observation and broadcast, search and rescue, and surveillance and reconnaissance.

Flir Systems (NASDAQ:FLIR) has potential upside of 7.2% based on a current price of $37.41 and analysts' consensus price target of $40.11. The stock should discover initial support at its 50-day moving average (MA) of $32.22 and subsequent support at its 200-day MA of $29.83.

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

Keywords: bullish am inside day candle flir systems

Ticker(s): FLIR