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Possible Bullish Inside Day Candle Pattern Detected for Pentair Plc (NYSE:PNR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Pentair Plc (NYSE:PNR) based on the price action in the company's shares. Yesterday's price range of $43.48 and $43.63 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 Pentair Plc 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 Pentair Plc have traded between a low of $34.50 and a high of $47.43 and closed yesterday at $43.69, which is 27% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Pentair PLC delivers services and solutions for its customer's diverse needs in water and other fluids, thermal management, and equipment protection. The Company is organized as three operating segments, water and fluid solutions, valves and controls, and technical solutions. Pentair manufactures and distributes its products worldwide.

There is potential upside of 11.1% for shares of Pentair Plc based on a current price of $43.69 and an average consensus analyst price target of $48.53. The stock should find resistance at its 50-day moving average (MA) of $45.23, as well as support at its 200-day MA of $39.93.

SmarTrend is tracking the current trend status for Pentair Plc and will alert subscribers who have PNR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle pentair plc

Ticker(s): PNR