• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Neogenomics Inc (NASDAQ:NEO)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Neogenomics Inc (NASDAQ:NEO) based on the price action in the company's shares. Yesterday's price range of $20.97 and $21.70 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 Neogenomics 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.

Neogenomics Inc (NASDAQ:NEO) is currently priced 45.4% above its average consensus analyst price target of $11.50. The stock should discover initial support at its 50-day moving average (MA) of $20.92 and subsequent support at its 200-day MA of $16.60.

NeoGenomics, Inc. operates a network of clinical laboratories that specializes in cancer genetics diagnostic testing services. The Company's services include cytogenetics, fluorescence in-situhybridization (FISH), flow cytometry, morphology, anatomic pathology, and molecular genetic testing. NeoGenomics serves pathologists, oncologists, urologists, and hospitals.

Neogenomics Inc share prices have moved between a 52-week high of $23.85 and a 52-week low of $11.05 and closed yesterday at 91% above that low price at $21.06 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 1.0%.

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

Keywords: bullish am inside day candle neogenomics inc

Ticker(s): NEO