Possible Bullish Inside Day Candle Pattern Detected for Sanmina-SCI (NASDAQ:SANM)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Sanmina-SCI (NASDAQ:SANM) based on the price action in the company's shares. Yesterday's price range of $25.21 and $25.74 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 Sanmina-SCI 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, Sanmina-SCI has traded in a range of $16.31 to $28.45 and closed yesterday at $25.69, 58% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.3%.
Based on a current price of $25.69, Sanmina-SCI is currently 4.4% above its average consensus analyst price target of $24.57. The stock should find initial support at its 50-day moving average (MA) of $22.33 and further support at its 200-day MA of $21.21.
Sanmina-SCI Corporation provides electronics contract manufacturing services to customers located around the world. The Company offers its customers expertise in new product introduction, manufacturing, and design and fabrication of complex interconnect products. Sanmina-SCI specializes in circuit fabrication, system assembly, integration, and high-end enclosures and cabling.
SmarTrend recommended that subscribers consider buying shares of Sanmina-SCI on January 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.17. Since that recommendation, shares of Sanmina-SCI have risen 31.2%. We continue to monitor SANM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: bullish am inside day candle sanmina-sci