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Possible Bearish Inside Day Candle Pattern Detected for Agilent Tech Inc (NYSE:A)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Agilent Tech Inc (NYSE:A) based on the price action in the company's shares. Yesterday's price range of $70.28 and $73.21 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. Owners of Agilent Tech Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 6.7% for shares of Agilent Tech Inc based on a current price of $70.91 and an average consensus analyst price target of $75.65. The stock should run into initial resistance at its 200-day moving average (MA) of $76.79 and subsequent resistance at its 50-day MA of $79.37.

Agilent Technologies, Inc. provides core bio-analytical and electronic measurement solutions to the communications, electronics, life sciences, and chemical analysis industries. The Company's operations include electronic measurement, bio-analytical measurement, semiconductor, and board testing.

Agilent Tech Inc share prices have moved between a 52-week high of $90.64 and a 52-week low of $61.13 and closed yesterday at 16% above that low price at $70.91 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.3% while the 200-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Agilent Tech Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Agilent Tech Inc in search of a potential trend change.

Keywords: bearish am inside day candle agilent tech inc

Ticker(s): A