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

By James Quinn

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. Today's price range of $23.62 and $23.73 is within yesterday'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 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.

In the past 52 weeks, Taylor Morriso-A share prices have been bracketed by a low of $14.73 and a high of $23.77 and are now at $23.65, 61% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.0%.

Potential upside of 22.9% exists for Taylor Morriso-A, based on a current level of $23.65 and analysts' average consensus price target of $29.06. The stock should discover initial support at its 50-day moving average (MA) of $21.63 and subsequent support at its 200-day MA of $19.01.

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 30.3%. We continue to monitor TMHC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle taylor morriso-a

Ticker(s): TMHC