• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Toll Brothers (NYSE:TOL)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Toll Brothers (NYSE:TOL) based on the price action in the company's shares. Today's price range of $35.67 and $35.87 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 Toll Brothers may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Toll Brothers, Inc. builds luxury homes, serving both move-up and empty nester buyers in several regions of the United States. The Company builds customized single and attached homes, primarily on land that it develops and improves. Toll Brothers also operates its own architectural, engineering, mortgage, title, security, landscape, insurance brokerage, and manufacturing operations.

Potential upside of 5.6% exists for Toll Brothers, based on a current level of $35.84 and analysts' average consensus price target of $37.85. The stock should find initial support at its 200-day moving average (MA) of $32.95 and further support at its 50-day MA of $28.58.

In the past 52 weeks, Toll Brothers share prices have been bracketed by a low of $23.75 and a high of $42.19 and are now at $35.84, 51% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that subscribers consider buying shares of Toll Brothers on November 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.30. Since that recommendation, shares of Toll Brothers have risen 22.5%. We continue to monitor TOL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle Toll Brothers

Ticker(s): TOL