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Possible Bullish Inside Day Candle Pattern Detected for Angiodynamics In (NASDAQ:ANGO)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Angiodynamics In (NASDAQ:ANGO) based on the price action in the company's shares. Yesterday's price range of $19.89 and $20.16 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 Angiodynamics In may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

AngioDynamics, Inc. designs, develops, manufactures, and markets therapeutic and diagnostic devices. The Company's products enable interventional physicians to treat peripheral vascular disease and other non-coronary diseases. AngioDynamic's product lines consist of angiographic catheters, hemodialysis catheters, image guided vascular access products, and thrombolytic products.

In the past 52 weeks, Angiodynamics In share prices have been bracketed by a low of $18.11 and a high of $25.48 and closed yesterday at $20.06, 11% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

Angiodynamics In (NASDAQ:ANGO) is currently priced 10.3% above its average consensus analyst price target of $18.00. Angiodynamics In shares should first meet resistance at the 200-day moving average (MA) of $21.61 and find additional resistance at the 50-day MA of $22.39.

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

Keywords: bullish am inside day candle angiodynamics in

Ticker(s): ANGO