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Possible Bullish Inside Day Candle Pattern Detected for Amkor Tech Inc (NASDAQ:AMKR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Amkor Tech Inc (NASDAQ:AMKR) based on the price action in the company's shares. Yesterday's price range of $12.49 and $12.88 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 Amkor Tech Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Based on a current price of $12.82, Amkor Tech Inc is currently 22.6% above its average consensus analyst price target of $9.92. The stock should find initial support at its 50-day moving average (MA) of $9.64 and further support at its 200-day MA of $8.53.

Over the past year, Amkor Tech Inc has traded in a range of $5.74 to $15.25 and closed yesterday at $12.82, 123% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.5% while the 200-day MA has risen 1.7%.

Amkor Technology, Inc. provides semiconductor packaging and test services. The Company offers deep submicron wafer fabrication, wafer probe testing, integrated circuit packaging assembly and design, final testing, reliability testing, burn-in, and electrical characterization.

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

Keywords: bullish am inside day candle amkor tech inc

Ticker(s): AMKR