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Possible Bullish Inside Day Candle Pattern Detected for Lumentum Hol (NASDAQ:LITE)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Lumentum Hol (NASDAQ:LITE) based on the price action in the company's shares. Yesterday's price range of $79.81 and $81.49 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 Lumentum Hol may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Lumentum Hol share prices have moved between a 52-week high of $93.23 and a 52-week low of $40.28 and closed yesterday at 102% above that low price at $81.21 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 0.3%.

There is potential upside of 0.6% for shares of Lumentum Hol based on a current price of $81.21 and an average consensus analyst price target of $81.67. The stock should discover initial support at its 50-day moving average (MA) of $75.61 and subsequent support at its 200-day MA of $69.25.

Lumentum Holdings Inc. operates as a holding company. The Company, through its subsidiaries, supplies optical and photonic products. Lumentum Holdings serves customers worldwide.

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

Keywords: bullish am inside day candle lumentum hol

Ticker(s): LITE