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Possible Bearish Inside Day Candle Pattern Detected for Trimble Inc (NASDAQ:TRMB)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Trimble Inc (NASDAQ:TRMB) based on the price action in the company's shares. Yesterday's price range of $39.42 and $39.94 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 Trimble Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Trimble Inc share prices have moved between a 52-week high of $46.25 and a 52-week low of $29.75 and closed yesterday at 33% above that low price at $39.65 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 1.6%.

Trimble Inc. provides advanced location-based software solutions. The Company integrates its positioning expertise in GPS, laser, optical and inertial technologies with application software, wireless communications, and services to provide complete commercial solutions. Trimble operates worldwide.

There is potential upside of 4.5% for shares of Trimble Inc based on a current price of $39.65 and an average consensus analyst price target of $41.43. Trimble Inc shares should encounter resistance at the 50-day moving average (MA) of $40.22 and support at its 200-day MA of $39.38.

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

Keywords: bearish am inside day candle trimble inc

Ticker(s): TRMB