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Possible Bullish Inside Day Candle Pattern Detected for Orchids Paper Pr (AMEX:TIS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Orchids Paper Pr (AMEX:TIS) based on the price action in the company's shares. Yesterday's price range of $1.42 and $1.52 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 Orchids Paper Pr may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Orchids Paper Pr share prices have moved between a 52-week high of $36.31 and a 52-week low of $0.60 and closed yesterday at 143% above that low price at $1.46 per share. Over the past week, the 200-day moving average (MA) has gone down 2.9% while the 50-day MA has declined 6.6%.

Potential upside of 739.0% exists for Orchids Paper Pr, based on a current level of $1.46 and analysts' average consensus price target of $12.25. The stock should find initial resistance at its 50-day moving average (MA) of $1.98 and further resistance at its 200-day MA of $4.65.

Orchids Paper Products Company manufactures bulk tissue paper, known as parent rolls and converts parent rolls into a full line of tissue products. The Company markets paper towels, bathroom tissue, paper napkins, and other products to the private label segment of the consumer tissue market, and focuses on serving value retailers. Orchids Paper serves customers in the United States.

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

Keywords: bullish am inside day candle amex:tis orchids paper pr

Ticker(s): TIS