• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Actuant Corp-A (NYSE:ATU)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Actuant Corp-A (NYSE:ATU) based on the price action in the company's shares. Today's price range of $25.69 and $26.05 is within yesterday'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 Actuant Corp-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $25.82, Actuant Corp-A is currently 5.6% above its average consensus analyst price target of $24.38. The stock should find initial support at its 200-day moving average (MA) of $23.49 and further support at its 50-day MA of $22.43.

Actuant Corporation designs, manufactures, and distributes a range of industrial products and systems worldwide. It operates in two segments, Industrial Tools & Services (IT&S) and Engineered Components & Systems (EC&S).

In the past 52 weeks, Actuant Corp-A share prices have been bracketed by a low of $19.07 and a high of $31.00 and are now at $25.82, 35% above that low price. The 200-day and 50-day moving averages have moved 0.2% lower and 0.31% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Actuant Corp-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Actuant Corp-A in search of a potential trend change.

Keywords: bearish inside day candle actuant corp-a

Ticker(s): ATU