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Possible Bullish Inside Day Candle Pattern Detected for Mks Instruments (NASDAQ:MKSI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Mks Instruments (NASDAQ:MKSI) based on the price action in the company's shares. Yesterday's price range of $100.20 and $102.55 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 Mks Instruments 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 34.7% exists for Mks Instruments, based on a current level of $102.45 and analysts' average consensus price target of $138.00. The stock should find initial resistance at its 200-day moving average (MA) of $104.10 and further resistance at its 50-day MA of $111.42.

In the past 52 weeks, Mks Instruments share prices have been bracketed by a low of $39.32 and a high of $128.28 and closed yesterday at $102.45, 161% above that low price. The 200-day and 50-day moving averages have moved 0.32% higher and 0.57% lower over the past week, respectively.

MKS Instruments, Inc. develops, manufactures, and supplies instruments and components used to control and analyze gases in semiconductor manufacturing and similar industrial manufacturing processes. The Company's products are used to manufacture flat panel displays, magnetic and optical storage devices and media, solar cells, fiber optic cables, and diamond thin films.

SmarTrend is monitoring the recent change of momentum in Mks Instruments. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Mks Instruments in search of a potential trend change.

Keywords: bullish am inside day candle mks instruments

Ticker(s): MKSI