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Possible Bullish Inside Day Candle Pattern Detected for Microsemi (NASDAQ:MSCC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Microsemi (NASDAQ:MSCC) based on the price action in the company's shares. Yesterday's price range of $39.75 and $40.15 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 Microsemi may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Microsemi share prices have been bracketed by a low of $20.61 and a high of $40.86 and closed yesterday at $39.83, 93% 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 remained constant.

Microsemi Corporation designs, manufactures, and markets analog, mixed-signal, and discrete semiconductors. The Company's semiconductors manage and regulate power, protect against transient voltage spikes and transmit, receive, and amplify signals.

Microsemi has overhead space with shares priced $39.83, or 11.7% below the average consensus analyst price target of $45.10. The stock should discover initial support at its 50-day moving average (MA) of $36.28 and subsequent support at its 200-day MA of $34.03.

SmarTrend recommended that subscribers consider buying shares of Microsemi on June 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $34.14. Since that recommendation, shares of Microsemi have risen 16.3%. We continue to monitor MSCC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle microsemi

Ticker(s): MSCC