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

By Nick Russo

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 $61.75 and $62.20 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.

In the past 52 weeks, Itt Inc share prices have been bracketed by a low of $44.89 and a high of $63.04 and closed yesterday at $61.87, 38% above that low price. The 200-day and 50-day moving averages have moved 0.24% higher and 0.98% higher over the past week, respectively.

Based on a current price of $61.87, Itt Inc is currently 0.3% above its average consensus analyst price target of $61.67. The stock should find initial support at its 50-day moving average (MA) of $57.55 and further support at its 200-day MA of $55.33.

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.

SmarTrend is tracking the current trend status for Itt Inc and will alert subscribers who have ITT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle itt inc

Ticker(s): ITT