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Possible Bullish Inside Day Candle Pattern Detected for Mts Systems Corp (NASDAQ:MTSC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Mts Systems Corp (NASDAQ:MTSC) based on the price action in the company's shares. Yesterday's price range of $44.28 and $45.34 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 Mts Systems Corp 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 36.2% exists for Mts Systems Corp, based on a current level of $44.80 and analysts' average consensus price target of $61.00. Mts Systems Corp shares should first meet resistance at the 50-day moving average (MA) of $48.87 and find additional resistance at the 200-day MA of $54.67.

MTS Systems Corporation manufactures computer-based testing and simulation systems for determining the mechanical behavior of materials, products, and structures. The Company also manufactures measurement and control instrumentation products for the automation of manufacturing processes.

Mts Systems Corp share prices have moved between a 52-week high of $60.57 and a 52-week low of $41.53 and closed yesterday at 8% above that low price at $44.80 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.5% while the 200-day MA has slid 0.2%.

SmarTrend is tracking the current trend status for Mts Systems Corp and will alert subscribers who have MTSC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle mts systems corp

Ticker(s): MTSC