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Possible Bullish Inside Day Candle Pattern Detected for Axalta Coating S (NYSE:AXTA)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Axalta Coating S (NYSE:AXTA) based on the price action in the company's shares. Yesterday's price range of $28.38 and $28.85 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. Traders and investors interested in shares of Axalta Coating S may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Axalta Coating Systems Ltd. manufactures, markets, and distributes coating systems. The Company offers products and services which includes paint, color matching tools, application technologies, and customer training and business management systems. Axalta Coating Systems serves automotive, transportation, general industrial, and architectural and decorative sectors.

Axalta Coating S share prices have moved between a 52-week high of $32.20 and a 52-week low of $21.58 and closed yesterday at 33% above that low price at $28.70 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has risen 0.4%.

Axalta Coating S has overhead space with shares priced $28.70, or 15.6% below the average consensus analyst price target of $34.00. The stock should hit resistance at its 50-day moving average (MA) of $29.25, as well as support at its 200-day MA of $27.25.

SmarTrend is tracking the current trend status for Axalta Coating S and will alert subscribers who have AXTA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle axalta coating s

Ticker(s): AXTA