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Possible Bearish Inside Day Candle Pattern Detected for Taylor Morriso-A (NYSE:TMHC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Taylor Morriso-A (NYSE:TMHC) based on the price action in the company's shares. Yesterday's price range of $20.57 and $20.95 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 Taylor Morriso-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Taylor Morriso-A share prices have moved between a 52-week high of $22.70 and a 52-week low of $14.73 and closed yesterday at 42% above that low price at $20.85 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

Taylor Morriso-A (NYSE:TMHC) has potential upside of 39.4% based on a current price of $20.85 and analysts' consensus price target of $29.06. The stock should discover initial support at its 50-day moving average (MA) of $18.70 and subsequent support at its 200-day MA of $17.96.

Taylor Morrison Home Corporation is a homebuilder in North America. The Company builds single-family detached and attached homes and develop land, which includes lifestyle and master planned communities.

SmarTrend recommended that subscribers consider buying shares of Taylor Morriso-A on March 27th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.20. Since that recommendation, shares of Taylor Morriso-A have risen 15.5%. We continue to monitor TMHC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle taylor morriso-a

Ticker(s): TMHC