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Possible Bullish Inside Day Candle Pattern Detected for Lear (NYSE:LEA)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Lear (NYSE:LEA) based on the price action in the company's shares. Today's price range of $112.91 and $115.11 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. Traders and investors interested in shares of Lear may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Lear Corporation provides seating systems, electrical distribution systems and electronic products. Lear also offers its customers design, engineering, validation, and project management support.

Lear (NYSE:LEA) has potential upside of 19.1% based on a current price of $114.23 and analysts' consensus price target of $136.08. The stock should find initial support at its 200-day moving average (MA) of $111.06 and further support at its 50-day MA of $109.72.

In the past 52 weeks, Lear share prices have been bracketed by a low of $89.71 and a high of $127.00 and are now at $114.23, 27% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.

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

Keywords: bullish inside day candle Lear

Ticker(s): LEA