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Possible Bullish Inside Day Candle Pattern Detected for Ptc Inc (NASDAQ:PTC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ptc Inc (NASDAQ:PTC) based on the price action in the company's shares. Yesterday's price range of $63.89 and $64.40 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 Ptc 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.

Ptc Inc has overhead space with shares priced $64.22, or 25.7% below the average consensus analyst price target of $86.38. The stock should find initial resistance at its 50-day moving average (MA) of $77.35 and further resistance at its 200-day MA of $85.46.

PTC Inc. operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

Ptc Inc share prices have moved between a 52-week high of $107.44 and a 52-week low of $62.05 and closed yesterday at 3% above that low price at $64.22 per share. The 200-day and 50-day moving averages have moved 0.6% lower and 2.67% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Ptc Inc on July 25th, 2019 by issuing a Downtrend alert when the shares were trading at $75.31. Since that call, shares of Ptc Inc have fallen 15.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle ptc inc

Ticker(s): PTC