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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 $83.75 and $84.08 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.

Motorola Solutions (NYSE:MSI) has potential upside of 1.1% based on a current price of $83.84 and analysts' consensus price target of $84.75. The stock should find initial support at its 50-day moving average (MA) of $74.02 and further support at its 200-day MA of $68.48.

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.

Over the past year, Motorola Solutions has traded in a range of $56.40 to $87.55 and is now at $83.84, 49% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.5%.

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