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Possible Bearish Inside Day Candle Pattern Detected for Thor Industries (NYSE:THO)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Thor Industries (NYSE:THO) based on the price action in the company's shares. Yesterday's price range of $85.25 and $87.60 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 Thor Industries may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 80.8% for shares of Thor Industries based on a current price of $85.98 and an average consensus analyst price target of $155.45. Thor Industries shares have support at the 50-day moving average (MA) of $77.80 and additional support at the 200-day MA of $62.04.

In the past 52 weeks, shares of Thor Industries have traded between a low of $42.05 and a high of $89.45 and closed yesterday at $85.98, which is 104% above that low price. The 200-day and 50-day moving averages have moved 0.67% higher and 2.16% higher over the past week, respectively.

Thor Industries, Inc. produces and sells a wide range of recreation vehicles. The Company offers motorhomes, camping, fifth-wheel, and travel trailers. Thor Industries serves customers in the United States and Canada.

SmarTrend is tracking the current trend status for Thor Industries and will alert subscribers who have THO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle thor industries

Ticker(s): THO