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Possible Bullish Inside Day Candle Pattern Detected for Ultra Clean Hold (NASDAQ:UCTT)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ultra Clean Hold (NASDAQ:UCTT) based on the price action in the company's shares. Yesterday's price range of $12.74 and $13.27 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 Ultra Clean Hold 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, Ultra Clean Hold has traded in a range of $6.94 to $18.00 and closed yesterday at $13.27, 91% above that low. The 200-day and 50-day moving averages have moved 0.06% lower and 1.47% higher over the past week, respectively.

Potential upside of 127.6% exists for Ultra Clean Hold, based on a current level of $13.27 and analysts' average consensus price target of $30.20. The stock should find initial support at its 50-day moving average (MA) of $12.67 and further support at its 200-day MA of $11.31.

Ultra Clean Holdings, Inc. designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe.

SmarTrend recommended that subscribers consider buying shares of Ultra Clean Hold on April 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.99. Since that recommendation, shares of Ultra Clean Hold have risen 4.8%. We continue to monitor UCTT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle ultra clean hold

Ticker(s): UCTT