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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. Today's price range of $73.18 and $73.80 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 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.

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 share prices have moved between a 52-week high of $74.73 and a 52-week low of $38.90 and are now trading 88% above that low price at $73.18 per share. The 200-day and 50-day moving averages have moved 0.55% higher and 1.58% higher over the past week, respectively.

Tempur Sealy Int (NYSE:TPX) is currently priced 17.6% above its average consensus analyst price target of $60.29. The stock should find initial support at its 50-day moving average (MA) of $64.35 and further support at its 200-day MA of $54.89.

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 14.9%. We continue to monitor TPX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle tempur sealy int

Ticker(s): TPX