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Possible Bearish Inside Day Candle Pattern Detected for Dentsply Sirona (NASDAQ:XRAY)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dentsply Sirona (NASDAQ:XRAY) based on the price action in the company's shares. Yesterday's price range of $43.19 and $43.79 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 Dentsply Sirona 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, Dentsply Sirona share prices have been bracketed by a low of $31.58 and a high of $60.87 and closed yesterday at $42.44, 34% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.9% while the 200-day MA has slid 0.6%.

Potential upside of 37.0% exists for Dentsply Sirona, based on a current level of $42.44 and analysts' average consensus price target of $58.15. The stock should hit resistance at its 200-day moving average (MA) of $51.84, as well as support at its 50-day MA of $41.59.

Dentsply Sirona Inc. manufactures and distributes dental supplies on a worldwide basis. The Company's products include dental prosthetics, endodontic instruments, dental sealants, ultrasonic scalers, dental x-ray equipment, and intraoral cameras. Dentsply also provides impression materials, orthodontic appliances, and dental operatory software systems and other dental products.

SmarTrend is tracking the current trend status for Dentsply Sirona and will alert subscribers who have XRAY in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle dentsply sirona

Ticker(s): XRAY