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Possible Bullish Inside Day Candle Pattern Detected for Cooper Cos Inc (NYSE:COO)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cooper Cos Inc (NYSE:COO) based on the price action in the company's shares. Yesterday's price range of $338.66 and $344.53 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 Cooper Cos 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.

Cooper Cos Inc (NYSE:COO) is currently priced 20.3% above its average consensus analyst price target of $268.08. The stock should find resistance at its 50-day moving average (MA) of $339.72, as well as support at its 200-day MA of $318.26.

In the past 52 weeks, shares of Cooper Cos Inc have traded between a low of $278.50 and a high of $365.68 and closed yesterday at $336.30, which is 21% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.2%.

The Cooper Companies, Inc. through its subsidiaries, develops, manufactures, and markets specialty healthcare products. The Company's products include contact lenses for the vision care market and diagnostic products, surgical instruments, and accessories for gynecologists and obstetricians.

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

Keywords: bullish am inside day candle cooper cos inc

Ticker(s): COO