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Possible Bullish Inside Day Candle Pattern Detected for Spirit Aerosystems Holdings (NYSE:SPR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Spirit Aerosystems Holdings (NYSE:SPR) based on the price action in the company's shares. Today's price range of $42.23 and $42.70 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 Spirit Aerosystems Holdings may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Spirit Aerosystems Holdings has overhead space with shares priced $42.32, or 28.5% below the average consensus analyst price target of $59.15. The stock should find initial resistance at its 50-day moving average (MA) of $46.53 and further resistance at its 200-day MA of $49.22.

Spirit AeroSystems Holdings Inc. designs and manufactures aerostructures including fuselages, propulsion systems and wing systems for commercial and military aircrafts.

In the past 52 weeks, shares of Spirit Aerosystems Holdings have traded between a low of $40.03 and a high of $57.99 and are now at $42.32, which is 6% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.4%.

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

Keywords: bullish inside day candle spirit aerosystems holdings

Ticker(s): SPR