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Possible Bullish Inside Day Candle Pattern Detected for Wright Medical G (NASDAQ:WMGI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Wright Medical G (NASDAQ:WMGI) based on the price action in the company's shares. Yesterday's price range of $26.68 and $27.51 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 Wright Medical G may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Wright Medical G have traded between a low of $20.50 and a high of $31.53 and closed yesterday at $27.18, which is 33% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 0.3%.

Based on a current price of $27.18, Wright Medical G is currently 0.0% above its average consensus analyst price target of $27.17. The stock should hit resistance at its 50-day moving average (MA) of $29.37, as well as support at its 200-day MA of $26.82.

Wright Medical Group N.V. operates as a medical device company. The Company offers surgical solutions for the upper and lower extremities and biologics markets. Wright Medical Group provides joint replacement, trauma, sports medicine, and biologic products to treat the extremities, as well as joint replacement products for the hip and knee in certain international markets.

SmarTrend is tracking the current trend status for Wright Medical G and will alert subscribers who have WMGI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle wright medical g

Ticker(s): WMGI