• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Itron Inc (NASDAQ:ITRI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Itron Inc (NASDAQ:ITRI) based on the price action in the company's shares. Yesterday's price range of $86.61 and $87.74 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 Itron Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Itron Inc (NASDAQ:ITRI) is currently priced 3.0% above its average consensus analyst price target of $84.38. The stock should discover initial support at its 50-day moving average (MA) of $84.30 and subsequent support at its 200-day MA of $71.42.

In the past 52 weeks, shares of Itron Inc have traded between a low of $45.54 and a high of $88.22 and closed yesterday at $86.97, which is 91% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 0.6%.

Itron, Inc. provides solutions for collecting, communicating, and analyzing electric, gas, and water usage data. The Company sells its products to the utility industry. Itron designs, manufactures, markets, sells, installs, and services hardware, software, and integrated systems for handheld computer-based electronic meter reading and automatic meter reading systems.

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

Keywords: bearish am inside day candle itron inc

Ticker(s): ITRI