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Possible Bearish Inside Day Candle Pattern Detected for Amphenol Corp-A (NYSE:APH)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Amphenol Corp-A (NYSE:APH) based on the price action in the company's shares. Yesterday's price range of $90.18 and $91.22 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 Amphenol Corp-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Amphenol Corporation designs, manufactures, and markets electrical, electronic and fiber optic connectors, interconnect systems, and coaxial and flat-ribbon cable. The Company's products are used in a variety of industries, including telephone, wireless, and data communications systems, cable television systems, and commercial and military aerospace electronics.

Amphenol Corp-A share prices have moved between a 52-week high of $110.24 and a 52-week low of $63.05 and closed yesterday at 40% above that low price at $88.26 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.4%.

There is potential upside of 9.8% for shares of Amphenol Corp-A based on a current price of $88.26 and an average consensus analyst price target of $96.92. Amphenol Corp-A shares should encounter resistance at the 200-day moving average (MA) of $94.78 and support at the 50-day MA of $82.48.

SmarTrend is tracking the current trend status for Amphenol Corp-A and will alert subscribers who have APH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle amphenol corp-a

Ticker(s): APH