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Possible Bullish Inside Day Candle Pattern Detected for Glaukos Corp (NYSE:GKOS)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Glaukos Corp (NYSE:GKOS) based on the price action in the company's shares. Yesterday's price range of $59.05 and $61.85 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 Glaukos Corp 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, Glaukos Corp share prices have been bracketed by a low of $50.60 and a high of $84.65 and closed yesterday at $61.64, 22% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

Glaukos Corp (NYSE:GKOS) is currently priced 36.7% above its average consensus analyst price target of $39.00. The stock should find initial resistance at its 50-day moving average (MA) of $64.84 and further resistance at its 200-day MA of $69.50.

Glaukos Corporation operates as an ophthalmic medical technology company. The Company develops, manufactures, and markets medical devices for the treatment of glaucoma. Glaukos offers micro-scale injectable therapies designed to address the complete range of glaucoma disease states and progression.

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

Keywords: bullish am inside day candle glaukos corp

Ticker(s): GKOS