Possible Bullish Inside Day Candle Pattern Detected for NXP Semiconductors (NASDAQ:NXPI)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in NXP Semiconductors (NASDAQ:NXPI) based on the price action in the company's shares. Today's price range of $83.00 and $83.90 is within yesterday'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 NXP Semiconductors may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
NXP Semiconductors has overhead space with shares priced $83.34, or 19.0% below the average consensus analyst price target of $102.86. NXP Semiconductors shares have support at the 200-day moving average (MA) of $82.95 and additional support at the 50-day MA of $81.19.
Over the past year, NXP Semiconductors has traded in a range of $61.61 to $114.00 and is now at $83.34, 35% above that low. The 200-day and 50-day moving averages have moved 0.15% lower and 1.66% higher over the past week, respectively.
NXP Semiconductors NV operates as a global semiconductor company. The Company designs semiconductors and software for mobile communications, consumer electronics, security applications, in-car entertainment, and networking. NXP offers its products to the automotive, identification, wireless infrastructure, lighting, mobile, and computing applications.
SmarTrend is monitoring the recent change of momentum in NXP Semiconductors. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of NXP Semiconductors in search of a potential trend change.
Keywords: bullish inside day candle nxp semiconductors