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Possible Bearish Inside Day Candle Pattern Detected for Navistar Intl (NYSE:NAV)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Navistar Intl (NYSE:NAV) based on the price action in the company's shares. Yesterday's price range of $32.67 and $34.18 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 Navistar Intl may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Navistar Intl has overhead space with shares priced $32.78, or 26.7% below the average consensus analyst price target of $44.73. The stock should find initial resistance at its 50-day moving average (MA) of $33.22 and further resistance at its 200-day MA of $34.40.

Navistar International Corporation manufactures and markets medium and heavy trucks, school buses, mid-range diesel engines, and service parts. The Company also provides financial services to its dealers and customers.

Navistar Intl share prices have moved between a 52-week high of $44.34 and a 52-week low of $23.69 and closed yesterday at 38% above that low price at $32.78 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has slid 0.4%.

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

Keywords: bearish am inside day candle navistar intl

Ticker(s): NAV