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Possible Bearish Inside Day Candle Pattern Detected for Teleflex Inc (NYSE:TFX)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Teleflex Inc (NYSE:TFX) based on the price action in the company's shares. Yesterday's price range of $385.90 and $385.90 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 Teleflex Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Teleflex Incorporated is a global provider of medical technology products. The Company primarily develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.

Teleflex Inc (NYSE:TFX) is currently priced 26.7% above its average consensus analyst price target of $284.09. Teleflex Inc shares have support at the 50-day moving average (MA) of $375.41 and additional support at the 200-day MA of $344.01.

In the past 52 weeks, Teleflex Inc share prices have been bracketed by a low of $269.88 and a high of $390.21 and closed yesterday at $387.38, 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.3%.

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

Keywords: bearish am inside day candle teleflex inc

Ticker(s): TFX