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Possible Bearish Inside Day Candle Pattern Detected for Oshkosh Corp (NYSE:OSK)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Oshkosh Corp (NYSE:OSK) based on the price action in the company's shares. Yesterday's price range of $72.86 and $74.21 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 Oshkosh Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Oshkosh Corp share prices have moved between a 52-week high of $86.45 and a 52-week low of $51.42 and closed yesterday at 44% above that low price at $73.81 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.5%.

Oshkosh Corporation designs, manufactures, and markets fire and emergency apparatuses and specialty commercial, and military trucks. The Company provides products such as pumpers, aerial and ladder trucks, tankers, rescue vehicles, snow removal vehicles, refuse truck bodies, and concrete mixers.

There is potential upside of 28.9% for shares of Oshkosh Corp based on a current price of $73.81 and an average consensus analyst price target of $95.13. Oshkosh Corp shares should encounter resistance at the 200-day moving average (MA) of $76.04 and support at the 50-day MA of $72.51.

SmarTrend is monitoring the recent change of momentum in Oshkosh Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Oshkosh Corp in search of a potential trend change.

Keywords: bearish am inside day candle oshkosh corp

Ticker(s): OSK