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Possible Bullish Inside Day Candle Pattern Detected for Regal-Beloit (NYSE:RBC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Regal-Beloit (NYSE:RBC) based on the price action in the company's shares. Yesterday's price range of $74.20 and $75.15 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 Regal-Beloit may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Regal-Beloit Corporation manufactures a line of mechanical products that control motion and torque and electrical products such as motors and generators. The Company's products include gearboxes, automotive transmissions, rotary cutting tools, electric motors, and electric generators. Regal-Beloit sells its products to distributors, original equipment manufacturers, and end users.

In the past 52 weeks, Regal-Beloit share prices have been bracketed by a low of $47.77 and a high of $81.36 and closed yesterday at $75.00, 57% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has remained constant.

Regal-Beloit has overhead space with shares priced $75.00, or 2.5% below the average consensus analyst price target of $76.90. The stock should discover initial support at its 50-day moving average (MA) of $62.31 and subsequent support at its 200-day MA of $61.39.

SmarTrend is tracking the current trend status for Regal-Beloit and will alert subscribers who have RBC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle regal-beloit

Ticker(s): RBC