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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Oshkosh (NYSE:OSK) based on the price action in the company's shares. Yesterday's price range of $68.72 and $69.38 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 may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Oshkosh (NYSE:OSK) has potential upside of 10.0% based on a current price of $68.83 and analysts' consensus price target of $75.69. Oshkosh shares have support at the 50-day moving average (MA) of $39.78 and additional support at the 200-day MA of $38.65.

Oshkosh Corporation designs, manufactures, and markets fire and emergency apparatus 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.

In the past 52 weeks, shares of Oshkosh have traded between a low of $29.59 and a high of $75.00 and closed yesterday at $68.83, which is 133% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 2.6%.

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

Keywords: bearish am inside day candle oshkosh

Ticker(s): OSK