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Possible Bullish Inside Day Candle Pattern Detected for Rambus (NASDAQ:RMBS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Rambus (NASDAQ:RMBS) based on the price action in the company's shares. Yesterday's price range of $11.42 and $11.62 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 Rambus may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Rambus (NASDAQ:RMBS) has potential upside of 18.0% based on a current price of $11.44 and analysts' consensus price target of $13.50. The stock should find initial resistance at its 200-day moving average (MA) of $12.28 and further resistance at its 50-day MA of $13.02.

Rambus Inc. designs, develops, licenses, and markets high-speed chip-to-chip interface technology to enhance the performance and cost-effectiveness of consumer electronics, computer systems, and other electronic systems. The Company licenses semiconductor companies to manufacture and sell memory and logic ICs incorporating Rambus interface technology.

In the past 52 weeks, shares of Rambus have traded between a low of $3.78 and a high of $21.69 and closed yesterday at $11.44, which is 203% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.7%.

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

Keywords: bullish am inside day candle Rambus

Ticker(s): RMBS