• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Roper Technologi (NYSE:ROP)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Roper Technologi (NYSE:ROP) based on the price action in the company's shares. Yesterday's price range of $271.41 and $274.53 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 Roper Technologi may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Roper Technologi has traded in a range of $245.59 to $312.65 and closed yesterday at $275.18, 12% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Roper Technologies, Inc. manufactures and distributes industrial equipment. The Company offers industrial controls, fluid handling, pumps, medical and scientific devices, analytical instrumentation products, radio frequency identification (RFID) communication technology, and software solutions.

Potential upside of 8.8% exists for Roper Technologi, based on a current level of $275.18 and analysts' average consensus price target of $299.50. The stock should run into initial resistance at its 50-day moving average (MA) of $280.38 and subsequent resistance at its 200-day MA of $283.80.

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

Keywords: bearish am inside day candle roper technologi

Ticker(s): ROP