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Possible Bearish Inside Day Candle Pattern Detected for Power Integratio (NASDAQ:POWI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Power Integratio (NASDAQ:POWI) based on the price action in the company's shares. Yesterday's price range of $102.14 and $106.65 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 Power Integratio may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Power Integrations, Inc. designs, develops, and markets analog integrated circuits for use in alternating current (AC) to direct current (DC) power conversion. The Company sells its products to original equipment manufacturers in the cellular telephone, consumer electronics, personal computer, and industrial electronics industries.

Over the past year, Power Integratio has traded in a range of $64.95 to $111.56 and closed yesterday at $102.35, 58% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.5%.

Power Integratio (NASDAQ:POWI) is currently priced 23.3% above its average consensus analyst price target of $78.50. Power Integratio shares have support at the 200-day moving average (MA) of $92.46 and additional support at the 50-day MA of $91.15.

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

Keywords: bearish am inside day candle power integratio

Ticker(s): POWI