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Possible Bullish Inside Day Candle Pattern Detected for Netscout Systems (NASDAQ:NTCT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Netscout Systems (NASDAQ:NTCT) based on the price action in the company's shares. Yesterday's price range of $24.53 and $25.00 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 Netscout Systems may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

NetScout Systems, Inc. designs, develops, manufactures, markets, and supports a family of products that enable businesses and service providers to manage the performance of computer networks and business software applications. The Company's application flow management solution consists of data collection devices and analysis and presentation software.

Netscout Systems (NASDAQ:NTCT) has potential upside of 12.8% based on a current price of $24.68 and analysts' consensus price target of $27.83. The stock should run into initial resistance at its 200-day moving average (MA) of $26.15 and subsequent resistance at its 50-day MA of $27.15.

Over the past year, Netscout Systems has traded in a range of $21.58 to $31.78 and closed yesterday at $24.68, 14% above that low. The 200-day and 50-day moving averages have moved 0.02% lower and 0.59% lower over the past week, respectively.

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

Keywords: bullish am inside day candle netscout systems

Ticker(s): NTCT