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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Motorola Solutions (NYSE:MSI) based on the price action in the company's shares. Today's price range of $85.41 and $86.00 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 Motorola Solutions 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, Motorola Solutions share prices have been bracketed by a low of $56.40 and a high of $87.97 and are now at $85.71, 52% above that low price. The 200-day and 50-day moving averages have moved 0.46% higher and 0.63% higher over the past week, respectively.

Motorola Solutions, Inc. manufactures two-way radios and accessories, mobile computers, wireless network infrastructure, private radio systems, bar code scanning and radio frequency identification equipment, and public safety broadband equipment.

Motorola Solutions (NYSE:MSI) defies analysts with a current price ($85.71) 1.1% above its average consensus price target of $84.75. The stock should discover initial support at its 50-day moving average (MA) of $74.02 and subsequent support at its 200-day MA of $68.48.

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

Keywords: bearish inside day candle motorola solutions

Ticker(s): MSI