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Possible Bullish Inside Day Candle Pattern Detected for Adv Energy Inds (NASDAQ:AEIS)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Adv Energy Inds (NASDAQ:AEIS) based on the price action in the company's shares. Yesterday's price range of $53.52 and $54.42 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. Traders and investors interested in shares of Adv Energy Inds may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Adv Energy Inds has traded in a range of $38.74 to $60.76 and closed yesterday at $54.07, 40% above that low. The 200-day and 50-day moving averages have moved 0.41% higher and 0.56% lower over the past week, respectively.

Potential upside of 45.4% exists for Adv Energy Inds, based on a current level of $54.07 and analysts' average consensus price target of $78.60. Adv Energy Inds shares have support at the 50-day moving average (MA) of $53.38 and additional support at the 200-day MA of $51.95.

Advanced Energy Industries, Inc. provides engineered precision power conversion, measurement, and control solutions. The Company designs, manufactures, sells and supports power conversion products and solutions that transform power into various usable forms in a variety of applications ranging from manufacturing and industrial processes to instrumentation and measurement.

SmarTrend is monitoring the recent change of momentum in Adv Energy Inds. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Adv Energy Inds in search of a potential trend change.

Keywords: bullish am inside day candle adv energy inds

Ticker(s): AEIS