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Possible Bearish Inside Day Candle Pattern Detected for Tempur Sealy Int (NYSE:TPX)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tempur Sealy Int (NYSE:TPX) based on the price action in the company's shares. Yesterday's price range of $70.75 and $72.12 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 Tempur Sealy Int may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Tempur Sealy Int has traded in a range of $38.90 to $74.57 and closed yesterday at $72.01, 85% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.1%.

Tempur Sealy International Inc., through its primary subsidiary manufactures and markets foam mattresses, pillows, and miscellaneous products under its own and other brand names.

Tempur Sealy Int (NYSE:TPX) is currently priced 16.3% above its average consensus analyst price target of $60.29. Tempur Sealy Int shares have support at the 50-day moving average (MA) of $63.82 and additional support at the 200-day MA of $54.72.

SmarTrend recommended that subscribers consider buying shares of Tempur Sealy Int on May 28th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $64.82. Since that recommendation, shares of Tempur Sealy Int have risen 8.6%. We continue to monitor TPX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle tempur sealy int

Ticker(s): TPX