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Possible Bullish Inside Day Candle Pattern Detected for Lemaitre Vascula (NASDAQ:LMAT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Lemaitre Vascula (NASDAQ:LMAT) based on the price action in the company's shares. Yesterday's price range of $22.00 and $24.59 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 Lemaitre Vascula may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 42.3% for shares of Lemaitre Vascula based on a current price of $24.45 and an average consensus analyst price target of $34.80. The stock should find initial resistance at its 200-day moving average (MA) of $32.25 and further resistance at its 50-day MA of $32.67.

Lemaitre Vascula share prices have moved between a 52-week high of $38.64 and a 52-week low of $21.24 and closed yesterday at 15% above that low price at $24.45 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.2% while the 200-day MA has remained constant.

LeMaitre Vascular, Inc. manufactures medical devices for vascular surgeons and interventionists. The Company develops, produces, and markets disposable and implantable devices for the treatment of peripheral vascular disease such as stent grafts, anastomotic clips, valvulotomes, radiopaque marking tape, shunts, and embolectomy catheters.

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

Keywords: bullish am inside day candle lemaitre vascula

Ticker(s): LMAT