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Possible Bullish Inside Day Candle Pattern Detected for Maxim Integrated Products (NASDAQ:MXIM)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Maxim Integrated Products (NASDAQ:MXIM) based on the price action in the company's shares. Today's price range of $35.93 and $36.31 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 Maxim Integrated Products may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 4.9% exists for Maxim Integrated Products, based on a current level of $36.02 and analysts' average consensus price target of $37.77. Maxim Integrated Products shares have support at the 50-day moving average (MA) of $35.69 and additional support at the 200-day MA of $35.36.

In the past 52 weeks, shares of Maxim Integrated Products have traded between a low of $20.62 and a high of $42.18 and are now at $36.02, which is 75% above that low price. The 200-day and 50-day moving averages have moved 0.25% higher and 0.62% higher over the past week, respectively.

Maxim Integrated Products, Inc. designs, develops, manufactures, and markets a broad range of linear and mixed-signal integrated circuits. The Company also provides a range of high-frequency design processes and capabilities that can be used in custom design.

SmarTrend recommended that subscribers consider buying shares of Maxim Integrated Products on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.99. Since that recommendation, shares of Maxim Integrated Products have risen 5.7%. We continue to monitor MXIM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle maxim integrated products

Ticker(s): MXIM