Possible Bullish Inside Day Candle Pattern Detected for Teleflex (NYSE:TFX)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Teleflex (NYSE:TFX) based on the price action in the company's shares. Yesterday's price range of $173.54 and $176.11 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 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, Teleflex has traded in a range of $121.85 to $188.79 and closed yesterday at $175.35, 44% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.3%.
Based on a current price of $175.35, Teleflex is currently 17.3% above its average consensus analyst price target of $145.09. Teleflex shares have support at the 50-day moving average (MA) of $153.33 and additional support at the 200-day MA of $137.05.
Teleflex Incorporated is a diversified industrial firm that operates through its commercial, medical, and aerospace segments. The Company manufactures mechanical controls, electronic products, driver control systems, hospital supply and surgical devices, precision controls, and cargo systems. Teleflex's products are sold primarily to original equipment manufacturers.
SmarTrend is monitoring the recent change of momentum in Teleflex. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Teleflex in search of a potential trend change.
Keywords: bullish am inside day candle Teleflex