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Possible Bullish Inside Day Candle Pattern Detected for Zagg Inc (NASDAQ:ZAGG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Zagg Inc (NASDAQ:ZAGG) based on the price action in the company's shares. Yesterday's price range of $7.48 and $7.68 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 Zagg 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.

Zagg Incorporated designs, manufactures, and distributes mobile phone accessories. The Company offers protective coverings, audio accessories, and power solutions for consumer electronics and hand-held devices. Zagg serves clients globally.

In the past 52 weeks, Zagg Inc share prices have been bracketed by a low of $5.15 and a high of $15.70 and closed yesterday at $7.56, 47% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.4%.

Zagg Inc (NASDAQ:ZAGG) has potential upside of 148.0% based on a current price of $7.56 and analysts' consensus price target of $18.75. The stock should hit resistance at its 50-day moving average (MA) of $7.87, as well as support at its 200-day MA of $7.15.

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

Keywords: bullish am inside day candle zagg inc

Ticker(s): ZAGG