Possible Bearish Inside Day Candle Pattern Detected for IDEX (NYSE:IEX)

Published on Wed, 02/18/2015 - 08:32
By Mallory Stone in Candlestick, IEX, bearish am inside day candle, idex, nyse:iex

Analysts have spotted a possible bearish inside day candle pattern in IDEX (NYSE:IEX) based on the price action in the company's shares. Yesterday's price range of $76.43 and $77.01 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 IDEX may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 2.6% for shares of IDEX based on a current price of $76.64 and an average consensus analyst price target of $78.62. IDEX shares have support at the 200-day moving average (MA) of $75.86 and additional support at the 50-day MA of $75.08.

IDEX Corporation designs, manufactures, and markets a variety of pump products, dispensing equipment, and other engineered products. The Company's products include industrial pumps, lubrication systems, banding and clamping devices, and rescue tools. IDEX markets its products to customers in the United States and overseas.

In the past 52 weeks, IDEX share prices have been bracketed by a low of $65.91 and a high of $81.82 and closed yesterday at $76.64, 16% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

By Mallory Stone
mstone@fnno.com

Latest News from FNNO

Shares of Skechers U.S.A. Have Risen Abo...

Shares of Skechers U.S.A. (NYSE:SKX) traded at a new 52-week high today of $74.25. So ...

Shares of Shaw Communications Have Falle...

Shares of Shaw Communications (NYSE:SJR) traded today at $22.15, breaking its 52-week l ...

Recent 52-Week High Exceeded in Shares o...

RBC Bearings (NASDAQ:ROLL) traded today at a new 52-week high of $76.91. Approximately ...

Recent 52-Week High Exceeded in Shares o...

Providence Service (NASDAQ:PRSC) traded at a new 52-week high today of $52.69. This ne ...

Watch for Continued Gains in Shares of P...

Shares of Pinnacle Entertainment (NYSE:PNK) traded today at $36.43, breaking its 52-wee ...

Shares of Philip Morris Fall Below Previ...

Shares of Philip Morris (NYSE:PM) traded at a new 52-week low today of $75.72. This ne ...

Recent 52-Week High Exceeded in Shares o...

Shares of Nice Systems (NASDAQ:NICE) traded today at $61.74, breaking its 52-week high. ...

Shares of Vail Resorts Have Risen Above ...

Vail Resorts (NYSE:MTN) traded today at a new 52-week high of $104.11. This new high w ...