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

By James Quinn

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 $279.54 and $282.31 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 (NYSE:TDG) has potential upside of 8.3% based on a current price of $281.23 and analysts' consensus price target of $304.47. Transdigm Group shares have support at the 200-day moving average (MA) of $224.13 and additional support at the 50-day MA of $223.06.

TransDigm Group, Inc., through subsidiaries, manufactures aircraft components. The Company produces ignition systems and components, gear pumps, mechanical and electromechanical actuators and controls, NiCad batteries and chargers, power conditioning devices, hold-open rods and locking devices, engineered connectors and latches, cockpit security devices, and AC and DC motors.

Transdigm Group share prices have moved between a 52-week high of $295.00 and a 52-week low of $203.72 and closed yesterday at 38% above that low price at $281.23 per share. The 200-day and 50-day moving averages have moved 0.05% lower and 0.57% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Transdigm Group on October 23rd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $268.46. Since that recommendation, shares of Transdigm Group have risen 5.2%. We continue to monitor TDG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle transdigm group

Ticker(s): TDG