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Possible Bearish Inside Day Candle Pattern Detected for Team Inc (NYSE:TISI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Team Inc (NYSE:TISI) based on the price action in the company's shares. Today's price range of $19.32 and $19.38 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 Team Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Team Inc (NYSE:TISI) has potential upside of 18.7% based on a current price of $19.38 and analysts' consensus price target of $23.00. The stock should discover initial support at its 200-day moving average (MA) of $19.31 and subsequent support at its 50-day MA of $15.39.

Team, Inc. provides specialized industrial services, including leak repair, hot tapping, emissions control, concrete repair, energy management, and mechanical inspection services. The Company has 40 customer service locations throughout the United States and three subsidiaries in England, Trinidad, and Singapore. The company also manufactures industrial equipment.

Team Inc share prices have moved between a 52-week high of $25.55 and a 52-week low of $12.85 and are now trading 51% above that low price at $19.38 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.7%.

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

Keywords: bearish inside day candle team inc

Ticker(s): TISI