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Possible Bearish Inside Day Candle Pattern Detected for Transdigm Group (NYSE:TDG)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Transdigm Group (NYSE:TDG) based on the price action in the company's shares. Yesterday's price range of $532.43 and $537.73 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 Transdigm Group may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States and internationally. The company operates in three segments: Power & Control, Airframe, and Non-aviation. The Power & Control segment offers mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, databus and power controls, hoists, winches and lifting devices, and cargo loading and handling systems.

Transdigm Group (NYSE:TDG) is currently priced 33.5% above its average consensus analyst price target of $355.40. The stock should find initial support at its 50-day moving average (MA) of $504.88 and further support at its 200-day MA of $437.77.

Transdigm Group share prices have moved between a 52-week high of $555.27 and a 52-week low of $307.36 and closed yesterday at 74% above that low price at $534.78 per share. Over the past week, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 0.9%.

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

Keywords: bearish am inside day candle transdigm group

Ticker(s): TDG