Analyzing the price chart for Molex (NASDAQ:MOLX) has revealed a potential bullish inside day candle pattern. Yesterday's price range of $27.18 and $27.47 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 Molex may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Molex Incorporated manufactures electronic, electrical, and fiber optic interconnection products and systems, switches, value-added assemblies, and application tooling. The Company sells to original equipment manufacturers in industries that include automotive, computer, computer peripheral, business equipment, telecommunications, consumer products, and premise wiring.
Molex (NASDAQ:MOLX) has potential upside of 2.1% based on a current price of $27.47 and analysts' consensus price target of $28.05. The stock should discover initial support at its 50-day moving average (MA) of $27.16 and subsequent support at its 200-day MA of $25.97.
Molex share prices have moved between a 52-week high of $29.00 and a 52-week low of $18.50 and closed yesterday at 48% above that low price at $27.47 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.