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Possible Bullish Inside Day Candle Pattern Detected for Cohu Inc (NASDAQ:COHU)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cohu Inc (NASDAQ:COHU) based on the price action in the company's shares. Yesterday's price range of $22.56 and $23.07 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 Cohu 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.

Cohu Inc share prices have moved between a 52-week high of $25.89 and a 52-week low of $11.37 and closed yesterday at 101% above that low price at $22.88 per share. The 200-day and 50-day moving averages have moved 0.72% higher and 1.09% higher over the past week, respectively.

Potential upside of 26.7% exists for Cohu Inc, based on a current level of $22.88 and analysts' average consensus price target of $29.00. Cohu Inc shares have support at the 50-day moving average (MA) of $21.56 and additional support at the 200-day MA of $16.71.

Cohu, Inc. designs, manufactures, and sells semiconductor test handling equipment to semiconductor manufacturers throughout the world. The Company also manufactures closed circuit television, metal detection, and microwave equipment.

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

Keywords: bullish am inside day candle cohu inc

Ticker(s): COHU