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Possible Bullish Inside Day Candle Pattern Detected for Natl Instruments (NASDAQ:NATI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Natl Instruments (NASDAQ:NATI) based on the price action in the company's shares. Yesterday's price range of $38.98 and $39.39 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 Natl 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.

National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes LabVIEW, a graphical application software package to visualize hardware configuration, measurement data, and debugging of application; LabWindows/CVI, an ANSI C integrated development environment and engineering toolbox with built-in libraries for measurement, analysis, and engineering UI design; and NI Measurement Studio, a suite of .NET tools designed for building engineering applications in Microsoft Visual Studio to acquire, analyze, and display measurement data.

There is potential upside of 14.9% for shares of Natl Instruments based on a current price of $39.18 and an average consensus analyst price target of $45.00. Natl Instruments shares should first meet resistance at the 50-day moving average (MA) of $42.29 and find additional resistance at the 200-day MA of $43.50.

In the past 52 weeks, shares of Natl Instruments have traded between a low of $38.01 and a high of $51.00 and closed yesterday at $39.18, which is 3% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.8%.

SmarTrend is tracking the current trend status for Natl Instruments and will alert subscribers who have NATI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle natl instruments

Ticker(s): NATI