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Possible Bullish Inside Day Candle Pattern Detected for Polaris Inds (NYSE:PII)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Polaris Inds (NYSE:PII) based on the price action in the company's shares. Yesterday's price range of $98.72 and $100.46 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. Traders and investors interested in shares of Polaris Inds 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, Polaris Inds share prices have been bracketed by a low of $70.27 and a high of $104.10 and closed yesterday at $99.07, 41% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.8%.

Polaris Inds has overhead space with shares priced $99.07, or 18.5% below the average consensus analyst price target of $121.50. Polaris Inds shares have support at the 200-day moving average (MA) of $88.26 and additional support at the 50-day MA of $87.56.

Polaris Industries Inc. designs, engineers, and manufactures off-road and on-road vehicles. The Company produces vehicles including snowmobiles, terrain vehicles, and motorcycles. Polaris Industries markets its products and related replacement parts and accessories through dealers and distributors located in the United States, Canada, and Europe.

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

Keywords: bullish am inside day candle polaris inds

Ticker(s): PII