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Possible Bullish Inside Day Candle Pattern Detected for Teleflex Inc (NYSE:TFX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Teleflex Inc (NYSE:TFX) based on the price action in the company's shares. Yesterday's price range of $378.73 and $379.24 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 Teleflex 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.

Teleflex Inc share prices have moved between a 52-week high of $384.70 and a 52-week low of $246.52 and closed yesterday at 53% above that low price at $378.12 per share. The 200-day and 50-day moving averages have moved 0.35% higher and 0.85% higher over the past week, respectively.

Teleflex Incorporated is a global provider of medical technology products. The Company primarily develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.

Teleflex Inc (NYSE:TFX) is currently priced 24.9% above its average consensus analyst price target of $284.09. The stock should find initial support at its 50-day moving average (MA) of $357.98 and further support at its 200-day MA of $333.42.

SmarTrend recommended that subscribers consider buying shares of Teleflex Inc on October 31st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $343.86. Since that recommendation, shares of Teleflex Inc have risen 10.1%. We continue to monitor TFX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle teleflex inc

Ticker(s): TFX