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Possible Bullish Inside Day Candle Pattern Detected for Neogenomics Inc (NASDAQ:NEO)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Neogenomics Inc (NASDAQ:NEO) based on the price action in the company's shares. Yesterday's price range of $21.84 and $22.50 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 Neogenomics Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

NeoGenomics, Inc. operates a network of clinical laboratories that specializes in cancer genetics diagnostic testing services. The Company's services include cytogenetics, fluorescence in-situhybridization (FISH), flow cytometry, morphology, anatomic pathology, and molecular genetic testing. NeoGenomics serves pathologists, oncologists, urologists, and hospitals.

Neogenomics Inc (NASDAQ:NEO) is currently priced 48.2% above its average consensus analyst price target of $11.50. The stock should hit resistance at its 50-day moving average (MA) of $24.12, as well as support at its 200-day MA of $19.93.

Over the past year, Neogenomics Inc has traded in a range of $11.05 to $26.89 and closed yesterday at $22.20, 101% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.7%.

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

Keywords: bullish am inside day candle neogenomics inc

Ticker(s): NEO