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Possible Bullish Inside Day Candle Pattern Detected for Logitech International (NASDAQ:LOGI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Logitech International (NASDAQ:LOGI) based on the price action in the company's shares. Today's price range of $21.54 and $21.63 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 Logitech International may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Logitech International S.A. manufactures personal computer input devices. The Company produces computer mice which help the user move the cursor around the computer screen quickly, trackballs, game controllers, keyboards, PC video cameras, and multimedia speakers. The Company sells its products worldwide.

In the past 52 weeks, Logitech International share prices have been bracketed by a low of $12.52 and a high of $22.42 and are now at $21.60, 73% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.

Logitech International (NASDAQ:LOGI) is currently priced 22.3% above its average consensus analyst price target of $16.79. Logitech International shares have support at the 50-day moving average (MA) of $15.88 and additional support at the 200-day MA of $14.74.

SmarTrend recommended that subscribers consider buying shares of Logitech International on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.74. Since that recommendation, shares of Logitech International have risen 38.7%. We continue to monitor LOGI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle logitech international

Ticker(s): LOGI