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

By Nick Russo

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 $76.65 and $79.20 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.

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.

MKS Instruments (NASDAQ:MKSI) defies analysts with a current price ($77.90) 6.3% above its average consensus price target of $73.00. The stock should discover initial support at its 50-day moving average (MA) of $36.10 and subsequent support at its 200-day MA of $35.04.

Over the past year, MKS Instruments has traded in a range of $20.01 to $88.40 and closed yesterday at $77.90, 289% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.

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