Possible Bullish Inside Day Candle Pattern Detected for Rogers (NYSE:ROG)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Rogers (NYSE:ROG) based on the price action in the company's shares. Yesterday's price range of $57.91 and $59.50 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 Rogers may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Rogers has overhead space with shares priced $58.59, or 11.2% below the average consensus analyst price target of $66.00. The stock should discover initial support at its 50-day moving average (MA) of $58.43 and subsequent support at its 200-day MA of $53.36.
Rogers share prices have moved between a 52-week high of $74.56 and a 52-week low of $41.92 and closed yesterday at 40% above that low price at $58.59 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.8%.
Rogers Corporation manufactures and markets specialty materials and components for applications in the communications, computer, imaging, consumer, and transportation markets. The Company's products include elastomers, high frequency circuit materials, flexible circuit materials, molding materials, and composite materials. Rogers sells its products around the world.
SmarTrend is monitoring the recent change of momentum in Rogers. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Rogers in search of a potential trend change.
Keywords: bullish am inside day candle rogers