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Possible Bullish Inside Day Candle Pattern Detected for Fluidigm Corp (NASDAQ:FLDM)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Fluidigm Corp (NASDAQ:FLDM) based on the price action in the company's shares. Yesterday's price range of $1.28 and $1.70 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 Fluidigm Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Fluidigm Corporation develops, manufactures, and markets proprietary integrated fluidic circuit systems. The Company has commercialized IFC systems for a wide range of life science applications, including a system for gene expression analysis, genotyping, and digital PCR, and a system for protein crystallization.

In the past 52 weeks, shares of Fluidigm Corp have traded between a low of $1.20 and a high of $14.66 and closed yesterday at $1.38, which is 15% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 3.1% while the 50-day MA has declined 3.5%.

Fluidigm Corp (NASDAQ:FLDM) has potential upside of 405.4% based on a current price of $1.38 and analysts' consensus price target of $6.97. The stock should find initial resistance at its 50-day moving average (MA) of $3.42 and further resistance at its 200-day MA of $6.24.

SmarTrend is monitoring the recent change of momentum in Fluidigm Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Fluidigm Corp in search of a potential trend change.

Keywords: bullish am inside day candle fluidigm corp

Ticker(s): FLDM