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Possible Bearish Inside Day Candle Pattern Detected for Sensata Technologies (NYSE:ST)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Sensata Technologies (NYSE:ST) based on the price action in the company's shares. Yesterday's price range of $38.46 and $38.84 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 Sensata Technologies may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Sensata Technologies Holding N.V. develops, manufactures, and sells sensors and controls. The Company produces thermal circuit breakers for aircraft, pressure sensors in automotive systems, and bimetal current and temperature control devices in electric motors.

There is potential upside of 35.4% for shares of Sensata Technologies based on a current price of $38.70 and an average consensus analyst price target of $52.38. The stock should hit resistance at its 200-day moving average (MA) of $42.39, as well as support at its 50-day MA of $37.20.

In the past 52 weeks, shares of Sensata Technologies have traded between a low of $29.92 and a high of $56.96 and closed yesterday at $38.70, which is 29% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.7%.

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

Keywords: bearish am inside day candle sensata technologies

Ticker(s): ST