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Possible Bearish Inside Day Candle Pattern Detected for Itt Inc (NYSE:ITT)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Itt Inc (NYSE:ITT) based on the price action in the company's shares. Yesterday's price range of $58.04 and $59.04 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 Itt Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Itt Inc (NYSE:ITT) has potential upside of 6.0% based on a current price of $58.15 and analysts' consensus price target of $61.67. The stock should hit resistance at its 200-day moving average (MA) of $58.53, as well as support at its 50-day MA of $58.04.

ITT Inc. manufactures engineered components and customized technology solutions for industrial end-markets. The Company offers complex pumps to advanced brake pads to intricate connectors. ITT serves energy infrastructure, electronics, aerospace, and transportation sectors.

Over the past year, Itt Inc has traded in a range of $44.89 to $66.88 and closed yesterday at $58.15, 30% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.3%.

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

Keywords: bearish am inside day candle itt inc

Ticker(s): ITT