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Possible Bullish Inside Day Candle Pattern Detected for Perkinelmer Inc (NYSE:PKI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Perkinelmer Inc (NYSE:PKI) based on the price action in the company's shares. Yesterday's price range of $79.43 and $81.18 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 Perkinelmer 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.

PerkinElmer, Inc. provides technology, services, and solutions to the diagnostics, research, environmental, industrial and laboratory services market. The Company's products include equipment used for genetic screening and drug discovery, optoelectronics, analytical instruments, image detection systems, and fluid containment products.

Perkinelmer Inc (NYSE:PKI) has potential upside of 0.2% based on a current price of $80.68 and analysts' consensus price target of $80.86. Perkinelmer Inc shares should first meet resistance at the 50-day moving average (MA) of $83.52 and find additional resistance at the 200-day MA of $89.62.

Perkinelmer Inc share prices have moved between a 52-week high of $103.00 and a 52-week low of $71.83 and closed yesterday at 12% above that low price at $80.68 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

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

Keywords: bullish am inside day candle perkinelmer inc

Ticker(s): PKI