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Possible Bullish Inside Day Candle Pattern Detected for Linear Technology (NASDAQ:LLTC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Linear Technology (NASDAQ:LLTC) based on the price action in the company's shares. Today's price range of $59.90 and $60.05 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 Linear Technology may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Linear Technology Corporation designs, manufactures, and markets a line of linear integrated circuits. The Company's products include high performance amplifiers, comparators, voltage references, monolithic filters, linear regulators, DC-DC converters, battery chargers, data converters, communications interface circuits, and RF signal conditioning circuits.

Linear Technology (NASDAQ:LLTC) is currently priced 29.6% above its average consensus analyst price target of $42.25. The stock should find initial support at its 50-day moving average (MA) of $44.35 and further support at its 200-day MA of $42.66.

Linear Technology share prices have moved between a 52-week high of $64.42 and a 52-week low of $36.41 and are now trading 65% above that low price at $60.00 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Linear Technology on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.58. Since that recommendation, shares of Linear Technology have risen 25.9%. We continue to monitor LLTC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle Linear Technology

Ticker(s): LLTC