• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Ipg Photonics (NASDAQ:IPGP)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ipg Photonics (NASDAQ:IPGP) based on the price action in the company's shares. Yesterday's price range of $147.35 and $152.41 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 Ipg Photonics may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ipg Photonics has overhead space with shares priced $148.54, or 45.6% below the average consensus analyst price target of $273.14. Ipg Photonics shares have support at the 200-day moving average (MA) of $142.13 and additional support at the 50-day MA of $134.76.

IPG Photonics Corporation produces high-power fiber lasers and amplifiers. The Company develops and commercializes optical fiber-based lasers used in a wide range of applications such as materials processing, telecommunications, and medical applications.

Over the past year, Ipg Photonics has traded in a range of $104.64 to $264.11 and closed yesterday at $148.54, 42% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 0.2%.

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

Keywords: bearish am inside day candle ipg photonics

Ticker(s): IPGP