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Possible Bullish Inside Day Candle Pattern Detected for Amphenol Corp-A (NYSE:APH)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Amphenol Corp-A (NYSE:APH) based on the price action in the company's shares. Yesterday's price range of $77.31 and $79.20 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 Amphenol Corp-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 18.7% exists for Amphenol Corp-A, based on a current level of $81.67 and analysts' average consensus price target of $96.92. The stock should find initial resistance at its 50-day moving average (MA) of $84.34 and further resistance at its 200-day MA of $95.09.

Over the past year, Amphenol Corp-A has traded in a range of $63.05 to $110.24 and closed yesterday at $81.67, 30% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.6%.

Amphenol Corporation designs, manufactures, and markets electrical, electronic and fiber optic connectors, interconnect systems, and coaxial and flat-ribbon cable. The Company's products are used in a variety of industries, including telephone, wireless, and data communications systems, cable television systems, and commercial and military aerospace electronics.

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

Keywords: bullish am inside day candle amphenol corp-a

Ticker(s): APH