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Possible Bullish Inside Day Candle Pattern Detected for Sensata Technologies (NYSE:ST)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Sensata Technologies (NYSE:ST) based on the price action in the company's shares. Today's price range of $32.73 and $33.18 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 Sensata Technologies may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 58.7% exists for Sensata Technologies, based on a current level of $33.01 and analysts' average consensus price target of $52.38. The stock should find initial resistance at its 50-day moving average (MA) of $37.20 and further resistance at its 200-day MA of $42.39.

In the past 52 weeks, shares of Sensata Technologies have traded between a low of $29.92 and a high of $56.96 and are now at $33.01, which is 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 0.4%.

Sensata Technologies Holding N.V. develops, manufactures, and sells sensors and controls. The Company produces thermal circuit breakers for aircraft, pressure sensors in automotive systems, and bimetal current and temperature control devices in electric motors.

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

Keywords: bullish inside day candle sensata technologies

Ticker(s): ST