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Possible Bearish Inside Day Candle Pattern Detected for Alpha & Omega Se (NASDAQ:AOSL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Alpha & Omega Se (NASDAQ:AOSL) based on the price action in the company's shares. Yesterday's price range of $11.46 and $12.07 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 Alpha & Omega Se may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Alpha & Omega Se share prices have been bracketed by a low of $5.82 and a high of $14.50 and closed yesterday at $12.03, 107% above that low price. The 200-day and 50-day moving averages have moved 0.51% higher and 0.35% higher over the past week, respectively.

Alpha & Omega Semiconductor Ltd. designs and manufactures semiconductors. The Company produces analog switches, power integrated circuits, and transient voltage suppressors for notebook computers, battery pack protection, liquid crystal display backlight inverters, cellular phones, and digital cameras. Alpha & Omega Semiconductor conducts operations internationally.

There is potential upside of 49.6% for shares of Alpha & Omega Se based on a current price of $12.03 and an average consensus analyst price target of $18.00. The stock should discover initial support at its 200-day moving average (MA) of $11.33 and subsequent support at its 50-day MA of $8.79.

SmarTrend is tracking the current trend status for Alpha & Omega Se and will alert subscribers who have AOSL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle alpha & omega se

Ticker(s): AOSL