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Possible Bullish Inside Day Candle Pattern Detected for Teleflex Inc (NYSE:TFX)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Teleflex Inc (NYSE:TFX) based on the price action in the company's shares. Yesterday's price range of $348.21 and $356.54 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 Teleflex 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.

Teleflex Inc (NYSE:TFX) is currently priced 17.9% above its average consensus analyst price target of $284.09. The stock should find initial resistance at its 200-day moving average (MA) of $346.05 and further resistance at its 50-day MA of $376.50.

Teleflex Inc share prices have moved between a 52-week high of $398.65 and a 52-week low of $271.56 and closed yesterday at 27% above that low price at $346.03 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

Teleflex Incorporated is a global provider of medical technology products. The Company primarily develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.

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

Keywords: bullish am inside day candle teleflex inc

Ticker(s): TFX