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Possible Bullish Inside Day Candle Pattern Detected for Plantronics Inc (NYSE:PLT)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Plantronics Inc (NYSE:PLT) based on the price action in the company's shares. Yesterday's price range of $13.32 and $13.92 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 Plantronics 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.

Plantronics, Inc. designs, manufactures, and markets lightweight communications headsets and headset accessories and services. The Company also manufactures and markets specialty telephone products, such as amplified telephone headsets and specialty telephones for hearing-impaired users, and noise-cancelling headsets for use in high-noise environments.

Plantronics Inc share prices have moved between a 52-week high of $53.92 and a 52-week low of $4.60 and closed yesterday at 185% above that low price at $13.09 per share. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 0.5%.

Potential upside of 434.8% exists for Plantronics Inc, based on a current level of $13.09 and analysts' average consensus price target of $70.00. The stock should hit resistance at its 200-day moving average (MA) of $25.13, as well as support at its 50-day MA of $11.03.

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

Keywords: bullish am inside day candle plantronics inc

Ticker(s): PLT