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Possible Bullish Inside Day Candle Pattern Detected for Power Integratio (NASDAQ:POWI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Power Integratio (NASDAQ:POWI) based on the price action in the company's shares. Yesterday's price range of $85.75 and $87.40 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 Power Integratio may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Power Integratio has traded in a range of $47.35 to $102.38 and closed yesterday at $86.07, 82% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has risen 0.6%.

Power Integratio (NASDAQ:POWI) is currently priced 8.8% above its average consensus analyst price target of $78.50. The stock should hit resistance at its 50-day moving average (MA) of $88.62, as well as support at its 200-day MA of $76.10.

Power Integrations, Inc. designs, develops, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide.

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

Keywords: bullish am inside day candle power integratio

Ticker(s): POWI