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Possible Bearish Inside Day Candle Pattern Detected for Spirit Aerosys-A (NYSE:SPR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Spirit Aerosys-A (NYSE:SPR) based on the price action in the company's shares. Yesterday's price range of $76.31 and $77.65 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 Spirit Aerosys-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Spirit Aerosys-A share prices have moved between a 52-week high of $105.20 and a 52-week low of $64.48 and closed yesterday at 21% above that low price at $77.71 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has slid 0.2%.

Spirit AeroSystems Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, designs and manufactures aerostructures including fuselages, propulsion systems, and wing systems for commercial and military aircrafts. Spirit AeroSystems serves clients globally.

There is potential upside of 36.5% for shares of Spirit Aerosys-A based on a current price of $77.71 and an average consensus analyst price target of $106.05. Spirit Aerosys-A shares should first meet resistance at the 50-day moving average (MA) of $78.14 and find additional resistance at the 200-day MA of $83.95.

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

Keywords: bearish am inside day candle spirit aerosys-a

Ticker(s): SPR