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Possible Bullish Inside Day Candle Pattern Detected for Quidel Corp (NASDAQ:QDEL)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Quidel Corp (NASDAQ:QDEL) based on the price action in the company's shares. Yesterday's price range of $77.18 and $78.56 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 Quidel Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Quidel Corporation discovers, develops, manufactures, and markets diagnostic healthcare products and solutions. The Company offers diagnostic solutions which help in the detection and diagnosis of critical diseases and other medical conditions, including infectious, women health, gastrointestinal, autoimmune, and bone health and thyroid diseases.

Over the past year, Quidel Corp has traded in a range of $48.62 to $81.61 and closed yesterday at $77.34, 59% above that low. The 200-day and 50-day moving averages have moved 0.33% higher and 1.10% higher over the past week, respectively.

Quidel Corp (NASDAQ:QDEL) is currently priced 16.7% above its average consensus analyst price target of $64.40. The stock should find initial support at its 50-day moving average (MA) of $73.53 and further support at its 200-day MA of $63.18.

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

Keywords: bullish am inside day candle quidel corp

Ticker(s): QDEL