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Possible Bearish Inside Day Candle Pattern Detected for Citrix Systems (NASDAQ:CTXS)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Citrix Systems (NASDAQ:CTXS) based on the price action in the company's shares. Today's price range of $122.28 and $123.55 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. Owners of Citrix Systems may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Citrix Systems, Inc. designs, develops, and markets technology solutions that allow applications to be delivered, supported, and shared on-demand. The Company develops and markets comprehensive solutions across all dimensions of application, server and desktop virtualization, as well as application and network optimization.

Citrix Systems share prices have moved between a 52-week high of $123.55 and a 52-week low of $90.28 and are now trading 36% above that low price at $122.50 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.3%.

Citrix Systems (NASDAQ:CTXS) is currently priced 14.4% above its average consensus analyst price target of $104.88. Citrix Systems shares have support at the 50-day moving average (MA) of $112.44 and additional support at the 200-day MA of $101.43.

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

Keywords: bearish inside day candle Citrix Systems

Ticker(s): CTXS