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Possible Bearish Inside Day Candle Pattern Detected for Tutor Perini Cor (NYSE:TPC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tutor Perini Cor (NYSE:TPC) based on the price action in the company's shares. Today's price range of $12.44 and $12.44 is within yesterday'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 Tutor Perini Cor may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide.

Tutor Perini Cor has overhead space with shares priced $12.44, or 57.1% below the average consensus analyst price target of $29.00. Tutor Perini Cor shares should encounter resistance at the 200-day moving average (MA) of $15.87 and support at the 50-day MA of $11.96.

In the past 52 weeks, shares of Tutor Perini Cor have traded between a low of $9.24 and a high of $21.35 and are now at $12.44, which is 35% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 2.2%.

SmarTrend is monitoring the recent change of momentum in Tutor Perini Cor. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Tutor Perini Cor in search of a potential trend change.

Keywords: bearish inside day candle tutor perini cor

Ticker(s): TPC