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

By James Quinn

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. Yesterday's price range of $15.14 and $15.46 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 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.

There is potential upside of 90.2% for shares of Tutor Perini Cor based on a current price of $15.25 and an average consensus analyst price target of $29.00. The stock should find initial resistance at its 50-day moving average (MA) of $17.79 and further resistance at its 200-day MA of $17.94.

Tutor Perini Cor share prices have moved between a 52-week high of $22.03 and a 52-week low of $14.19 and closed yesterday at 7% above that low price at $15.25 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has slid 0.4%.

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

SmarTrend recommended that its subscribers protect gains by selling shares of Tutor Perini Cor on May 9th, 2019 by issuing a Downtrend alert when the shares were trading at $17.57. Since that call, shares of Tutor Perini Cor have fallen 11.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle tutor perini cor

Ticker(s): TPC