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Possible Bearish Inside Day Candle Pattern Detected for Zebra Tech Corp (NASDAQ:ZBRA)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Zebra Tech Corp (NASDAQ:ZBRA) based on the price action in the company's shares. Yesterday's price range of $169.83 and $185.43 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 Zebra Tech Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Zebra Tech Corp share prices have moved between a 52-week high of $260.30 and a 52-week low of $140.95 and closed yesterday at 31% above that low price at $185.07 per share. The 200-day and 50-day moving averages have moved 0.06% higher and 2.64% lower over the past week, respectively.

Zebra Tech Corp (NASDAQ:ZBRA) is currently priced 13.9% above its average consensus analyst price target of $159.43. The stock should find initial resistance at its 200-day moving average (MA) of $219.01 and further resistance at its 50-day MA of $228.74.

Zebra Technologies Corporation designs and manufactures enterprise mobile computers, advanced data capture devices, such as laser, 2D and RFID scanners and readers, and specialty printers for barcode labeling and personal identification. The Company also produces WLAN products, real-time location systems, related supplies, and application software.

SmarTrend is tracking the current trend status for Zebra Tech Corp and will alert subscribers who have ZBRA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle zebra tech corp

Ticker(s): ZBRA