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Possible Bullish Inside Day Candle Pattern Detected for Gentherm Inc (NASDAQ:THRM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Gentherm Inc (NASDAQ:THRM) based on the price action in the company's shares. Yesterday's price range of $46.39 and $47.03 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 Gentherm 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.

Gentherm Inc (NASDAQ:THRM) defies analysts with a current price ($46.78) 20.0% above its average consensus price target of $37.44. Gentherm Inc shares have support at the 50-day moving average (MA) of $45.00 and additional support at the 200-day MA of $41.48.

Gentherm Incorporated designs, develops, and manufactures heating, cooling, and ventilating devices for diverse global markets. The Company offers heated and cooled seating, electronics, wheels, and cables for the automotive markets. Gentherm serves customers worldwide.

Gentherm Inc share prices have moved between a 52-week high of $48.43 and a 52-week low of $35.63 and closed yesterday at 31% above that low price at $46.78 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.

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

Keywords: bullish am inside day candle gentherm inc

Ticker(s): THRM