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Possible Bearish Inside Day Candle Pattern Detected for Calix Inc (NYSE:CALX)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Calix Inc (NYSE:CALX) based on the price action in the company's shares. Yesterday's price range of $6.65 and $7.14 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. Owners of Calix Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Calix, Inc. provides communications access systems and software that enable communications service providers, or CSPs, to connect to their residential and business subscribers. The Company's products encompass its multiservice, multiprotocol access platform and its ethernet service access platforms.

In the past 52 weeks, shares of Calix Inc have traded between a low of $5.60 and a high of $10.55 and closed yesterday at $6.67, which is 19% above that low price. The 200-day and 50-day moving averages have moved 0.12% higher and 2.09% lower over the past week, respectively.

Potential upside of 19.3% exists for Calix Inc, based on a current level of $6.67 and analysts' average consensus price target of $7.96. Calix Inc shares should first meet resistance at the 200-day moving average (MA) of $7.31 and find additional resistance at the 50-day MA of $8.52.

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

Keywords: bearish am inside day candle calix inc

Ticker(s): CALX