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Possible Bearish Inside Day Candle Pattern Detected for Kla-Tencor Corp (NASDAQ:KLAC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kla-Tencor Corp (NASDAQ:KLAC) based on the price action in the company's shares. Yesterday's price range of $167.28 and $169.95 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 Kla-Tencor Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Kla-Tencor Corp has traded in a range of $101.34 to $184.50 and closed yesterday at $168.78, 67% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

KLA-Tencor Corporation manufactures yield management and process monitoring systems for the semiconductor industry. The Company's systems are used to analyze product and process quality at critical steps in the manufacture of circuits and provide feedback so that fabrication problems can be identified. KLA-Tencor operates sales, service, and application centers worldwide.

Based on a current price of $168.78, Kla-Tencor Corp is currently 22.2% above its average consensus analyst price target of $131.33. Kla-Tencor Corp shares have support at the 200-day moving average (MA) of $158.73 and additional support at the 50-day MA of $149.67.

SmarTrend is tracking the current trend status for Kla-Tencor Corp and will alert subscribers who have KLAC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle kla-tencor corp

Ticker(s): KLAC