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Possible Bullish Inside Day Candle Pattern Detected for Citrix Systems (NASDAQ:CTXS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Citrix Systems (NASDAQ:CTXS) based on the price action in the company's shares. Yesterday's price range of $140.02 and $141.30 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 Citrix Systems may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Citrix Systems have traded between a low of $90.28 and a high of $152.49 and closed yesterday at $145.01, which is 61% above that low price. The 200-day and 50-day moving averages have moved 0.77% higher and 1.29% higher over the past week, respectively.

Citrix Systems (NASDAQ:CTXS) is currently priced 27.7% above its average consensus analyst price target of $104.88. Citrix Systems shares have support at the 50-day moving average (MA) of $129.64 and additional support at the 200-day MA of $111.69.

Citrix Systems, Inc. designs, develops, and markets technology solutions that allow applications to be delivered, supported, and shared on-demand. The Company develops and markets comprehensive solutions across all dimensions of application, server and desktop virtualization, as well as application and network optimization.

SmarTrend recommended that subscribers consider buying shares of Citrix Systems on March 5th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $112.44. Since that recommendation, shares of Citrix Systems have risen 24.5%. We continue to monitor CTXS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle Citrix Systems

Ticker(s): CTXS