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Possible Bullish Inside Day Candle Pattern Detected for Zebra Technologies (NASDAQ:ZBRA)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Zebra Technologies (NASDAQ:ZBRA) based on the price action in the company's shares. Today's price range of $49.61 and $50.62 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 Zebra Technologies may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Zebra Technologies (NASDAQ:ZBRA) has potential upside of 120.7% based on a current price of $50.07 and analysts' consensus price target of $110.50. The stock should run into initial resistance at its 50-day moving average (MA) of $65.31 and subsequent resistance at its 200-day MA of $73.48.

Zebra Technologies Corporation manufactures and distributes a broad line of direct thermal and thermal transfer bar code label and receipt printers. The Company also produces plastic card printers for the personal identification market. Zebra markets its products to manufacturing and service organizations for use in data collection and automatic identification systems.

In the past 52 weeks, shares of Zebra Technologies have traded between a low of $42.51 and a high of $119.47 and are now at $50.07, which is 18% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 0.7%.

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

Keywords: bullish inside day candle zebra technologies

Ticker(s): ZBRA