• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Titan Intl Inc (NYSE:TWI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Titan Intl Inc (NYSE:TWI) based on the price action in the company's shares. Yesterday's price range of $5.96 and $6.03 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 Titan Intl Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Titan International, Inc. manufactures mounted tire and wheel systems for off-highway equipment used in agriculture, construction, mining, military, recreation, and grounds care. The Company has worldwide manufacturing and distribution facilities.

Over the past year, Titan Intl Inc has traded in a range of $4.49 to $14.53 and closed yesterday at $5.99, 33% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 0.7%.

Titan Intl Inc has overhead space with shares priced $5.99, or 62.6% below the average consensus analyst price target of $16.00. The stock should find initial resistance at its 50-day moving average (MA) of $6.08 and further resistance at its 200-day MA of $8.74.

SmarTrend recommended that its subscribers protect gains by selling shares of Titan Intl Inc on August 3rd, 2018 by issuing a Downtrend alert when the shares were trading at $8.65. Since that call, shares of Titan Intl Inc have fallen 30.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle titan intl inc

Ticker(s): TWI