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Possible Bearish Inside Day Candle Pattern Detected for Interface Inc (NASDAQ:TILE)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Interface Inc (NASDAQ:TILE) based on the price action in the company's shares. Yesterday's price range of $12.92 and $13.26 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 Interface Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Interface, Inc. manufactures, markets, installs, and services products for the commercial and institutional interiors market. The Company provides modular carpet, panel fabrics for use in open plan office furniture systems, and complementary products, as well as carpet replacement, installation, and maintenance services. Interface markets its products around the world.

In the past 52 weeks, shares of Interface Inc have traded between a low of $10.41 and a high of $24.05 and closed yesterday at $13.07, which is 26% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 2.4%.

Interface Inc has overhead space with shares priced $13.07, or 53.0% below the average consensus analyst price target of $27.83. The stock should run into initial resistance at its 50-day moving average (MA) of $13.08 and subsequent resistance at its 200-day MA of $15.19.

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

Keywords: bearish am inside day candle interface inc

Ticker(s): TILE