• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Mettler-Toledo (NYSE:MTD)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Mettler-Toledo (NYSE:MTD) based on the price action in the company's shares. Yesterday's price range of $762.97 and $766.29 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 Mettler-Toledo may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Mettler-Toledo have traded between a low of $606.14 and a high of $873.51 and closed yesterday at $758.47, which is 25% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

Mettler-Toledo International Inc. manufactures and markets weighing instruments for use in laboratory, industrial, and food retailing applications. The Company also supplies several related analytical and measurement technologies. Mettler-Toledo provides its services to customers worldwide.

Mettler-Toledo (NYSE:MTD) is currently priced 21.1% above its average consensus analyst price target of $598.64. Mettler-Toledo shares should encounter resistance at the 50-day moving average (MA) of $778.51 and support at its 200-day MA of $744.71.

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

Keywords: bullish am inside day candle mettler-toledo

Ticker(s): MTD