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

By David Diaz

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 $4.44 and $4.53 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.

In the past 52 weeks, shares of Titan Intl Inc have traded between a low of $4.15 and a high of $12.08 and closed yesterday at $4.51, which is 9% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.9%.

Titan Intl Inc (NYSE:TWI) has potential upside of 254.8% based on a current price of $4.51 and analysts' consensus price target of $16.00. The stock should find initial resistance at its 50-day moving average (MA) of $5.81 and further resistance at its 200-day MA of $6.21.

Titan International, Inc., together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally.

SmarTrend recommended that its subscribers protect gains by selling shares of Titan Intl Inc on May 3rd, 2019 by issuing a Downtrend alert when the shares were trading at $5.34. Since that call, shares of Titan Intl Inc have fallen 12.7%. 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