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Possible Bearish Inside Day Candle Pattern Detected for Travelport World (NYSE:TVPT)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Travelport World (NYSE:TVPT) based on the price action in the company's shares. Yesterday's price range of $15.65 and $15.70 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 Travelport World 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, Travelport World share prices have been bracketed by a low of $12.10 and a high of $20.30 and closed yesterday at $15.65, 29% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

Travelport Worldwide Limited provides distribution, technology, payment, and other solutions for the travel and tourism industry. The Company's platform connects travel providers, such as airlines and hotel chains with travel agencies and tourists.

There is potential upside of 19.8% for shares of Travelport World based on a current price of $15.65 and an average consensus analyst price target of $18.75. The stock should find resistance at its 200-day moving average (MA) of $17.02, as well as support at its 50-day MA of $15.20.

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

Keywords: bearish am inside day candle travelport world

Ticker(s): TVPT