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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Idexx Labs (NASDAQ:IDXX) based on the price action in the company's shares. Yesterday's price range of $258.45 and $263.19 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 Idexx Labs 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 Labs (NASDAQ:IDXX) is currently priced 19.2% above its average consensus analyst price target of $209.57. Idexx Labs shares should first meet resistance at the 200-day moving average (MA) of $270.47 and find additional resistance at the 50-day MA of $273.95.

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, shares of Idexx Labs have traded between a low of $176.11 and a high of $296.25 and closed yesterday at $259.45, which is 47% 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%.

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

Keywords: bullish am inside day candle idexx labs

Ticker(s): IDXX