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Possible Bullish Inside Day Candle Pattern Detected for Viavi Solutions (NASDAQ:VIAV)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Viavi Solutions (NASDAQ:VIAV) based on the price action in the company's shares. Yesterday's price range of $14.98 and $15.14 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 Viavi Solutions may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Viavi Solutions (NASDAQ:VIAV) defies analysts with a current price ($15.12) 19.4% above its average consensus price target of $12.19. The stock should find initial support at its 50-day moving average (MA) of $14.84 and further support at its 200-day MA of $13.63.

In the past 52 weeks, shares of Viavi Solutions have traded between a low of $9.17 and a high of $16.35 and closed yesterday at $15.12, which is 65% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.3%.

Viavi Solutions Inc. provides network and service enabling solutions and optical products. The Company offers installation, commissioning, scripting, custom analytics, integration, business intelligence consulting, operational assistance, field and lab testing, technical training, maintenance, and support services. Viavi Solutions serves customers worldwide.

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

Keywords: bullish am inside day candle viavi solutions

Ticker(s): VIAV