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Possible Bullish Inside Day Candle Pattern Detected for Fireeye Inc (NASDAQ:FEYE)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Fireeye Inc (NASDAQ:FEYE) based on the price action in the company's shares. Yesterday's price range of $16.64 and $16.86 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 Fireeye 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.

FireEye, Inc. provides malware protection systems and network threat prevention solutions. The Company offers web, email, and file security, as well as malware analysis. FireEye serves customers throughout the United States.

Fireeye Inc has overhead space with shares priced $16.76, or 13.5% below the average consensus analyst price target of $19.38. The stock should discover initial support at its 50-day moving average (MA) of $15.45 and subsequent support at its 200-day MA of $15.32.

In the past 52 weeks, Fireeye Inc share prices have been bracketed by a low of $12.66 and a high of $20.51 and closed yesterday at $16.76, 32% above that low price. The 200-day and 50-day moving averages have moved 0.01% lower and 1.49% higher over the past week, respectively.

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

Keywords: bullish am inside day candle fireeye inc

Ticker(s): FEYE