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Possible Bullish Inside Day Candle Pattern Detected for Teradyne (NYSE:TER)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Teradyne (NYSE:TER) based on the price action in the company's shares. Today's price range of $18.43 and $18.83 is within yesterday'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 Teradyne may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Teradyne, Inc. designs, manufactures, sells, and supports semiconductor test products and services on a world wide basis. The Company's test equipment products and services include: semiconductor test systems, military/aerospace test instrumentation and systems, circuit-board test and inspection systems and automotive diagnostic and test systems.

There is potential upside of 20.7% for shares of Teradyne based on a current price of $18.71 and an average consensus analyst price target of $22.59. Teradyne shares should first meet resistance at the 200-day moving average (MA) of $19.43 and find additional resistance at the 50-day MA of $20.37.

Teradyne share prices have moved between a 52-week high of $21.84 and a 52-week low of $16.06 and are now trading 17% above that low price at $18.71 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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

Keywords: bullish inside day candle Teradyne

Ticker(s): TER