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Possible Bearish Inside Day Candle Pattern Detected for Motorola Solutio (NYSE:MSI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Motorola Solutio (NYSE:MSI) based on the price action in the company's shares. Yesterday's price range of $165.62 and $166.22 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 Motorola Solutio may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Motorola Solutio share prices have moved between a 52-week high of $182.28 and a 52-week low of $113.25 and closed yesterday at 47% above that low price at $166.05 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

Motorola Solutio (NYSE:MSI) is currently priced 27.2% above its average consensus analyst price target of $120.85. Motorola Solutio shares have support at the 50-day moving average (MA) of $162.99 and additional support at the 200-day MA of $161.88.

Motorola Solutions, Inc. is a data communications and telecommunications equipment provider. The Company develops data capture, wireless, infrastructure, bar code scanning, two-way radios, and wireless broadband networks. Motorola also produces public safety and government products, voice and data communications products and systems, and wireless LAN securities.

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

Keywords: bearish am inside day candle motorola solutio

Ticker(s): MSI