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Possible Bullish Inside Day Candle Pattern Detected for Digi Intl Inc (NASDAQ:DGII)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Digi Intl Inc (NASDAQ:DGII) based on the price action in the company's shares. Yesterday's price range of $11.65 and $11.74 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 Digi Intl 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.

Digi Intl Inc (NASDAQ:DGII) has potential upside of 26.1% based on a current price of $11.74 and analysts' consensus price target of $14.80. Digi Intl Inc shares should first meet resistance at the 200-day moving average (MA) of $12.30 and find additional resistance at the 50-day MA of $12.50.

Digi Intl Inc share prices have moved between a 52-week high of $14.70 and a 52-week low of $9.28 and closed yesterday at 27% above that low price at $11.74 per share. The 200-day and 50-day moving averages have moved 0.28% lower and 0.89% lower over the past week, respectively.

Digi International Inc. provides communications adapters that enable open systems and server-based applications. The Company also produces local area networking products. Digi markets its products through a global network of distributors, systems integrators, value added resellers, and original equipment manufacturers.

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

Keywords: bullish am inside day candle digi intl inc

Ticker(s): DGII