• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Triumph Group (NYSE:TGI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Triumph Group (NYSE:TGI) based on the price action in the company's shares. Yesterday's price range of $21.39 and $21.77 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 Triumph Group may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Triumph Group, Inc. designs, engineers, manufactures, repairs, overhauls, and distributes aerostructures, aircraft components, accessories, subassemblies, and systems worldwide. The company operates in three segments: Integrated Systems, Aerospace Structures, and Product Support.

In the past 52 weeks, shares of Triumph Group have traded between a low of $11.16 and a high of $26.00 and closed yesterday at $21.48, which is 92% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Potential upside of 21.5% exists for Triumph Group, based on a current level of $21.48 and analysts' average consensus price target of $26.10. The stock should hit resistance at its 50-day moving average (MA) of $21.81, as well as support at its 200-day MA of $19.64.

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

Keywords: bearish am inside day candle triumph group

Ticker(s): TGI