Possible Bearish Inside Day Candle Pattern Detected for Cooper Cos (NYSE:COO)

Published on Wed, 03/11/2015 - 07:32
By Adrienne Chilton in Candlestick, COO, bearish am inside day candle, cooper cos, nyse:coo

Analyzing the price chart for Cooper Cos (NYSE:COO) has revealed a potential bearish inside day candle pattern. Yesterday's price range of $180.90 and $183.20 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. Owners of Cooper Cos may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cooper Cos share prices have moved between a 52-week high of $183.51 and a 52-week low of $123.49 and closed yesterday at 48% above that low price at $182.24 per share. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.7%.

The Cooper Companies, Inc. through its subsidiaries, develops, manufactures, and markets specialty healthcare products. The Company's products include contact lenses for the vision care market and diagnostic products, surgical instruments, and accessories for gynecologists and obstetricians.

Cooper Cos (NYSE:COO) defies analysts with a current price ($182.24) 2.0% above its average consensus price target of $178.56. The stock should discover initial support at its 50-day moving average (MA) of $163.37 and subsequent support at its 200-day MA of $156.59.

By Adrienne Chilton
achilton@fnno.com

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