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Possible Bullish Inside Day Candle Pattern Detected for Idexx Laboratories (NASDAQ:IDXX)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Idexx Laboratories (NASDAQ:IDXX) based on the price action in the company's shares. Today's price range of $158.66 and $160.75 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 Idexx Laboratories may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Idexx Laboratories (NASDAQ:IDXX) is currently priced 12.4% above its average consensus analyst price target of $139.30. The stock should find initial support at its 50-day moving average (MA) of $78.79 and further support at its 200-day MA of $73.44.

IDEXX Laboratories, Inc. provides diagnostic, detection, and information systems for veterinary, food, and water testing applications. The Company also operates an international network of veterinary reference laboratories. IDEXX offers its products to customers worldwide.

In the past 52 weeks, Idexx Laboratories share prices have been bracketed by a low of $56.74 and a high of $173.01 and are now at $158.95, 180% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 0.6%.

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

Keywords: bullish inside day candle idexx laboratories

Ticker(s): IDXX