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Possible Bullish Inside Day Candle Pattern Detected for Tempur-Pedic International (NYSE:TPX)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Tempur-Pedic International (NYSE:TPX) based on the price action in the company's shares. Today's price range of $44.62 and $45.07 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 Tempur-Pedic International may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Tempur-Pedic International Inc., through its primary subsidiary Tempur World, manufactures and markets foam mattresses, pillows, and miscellaneous products under the Tempur-Pedic and other brand names.

Tempur-Pedic International has overhead space with shares priced $45.07, or 6.8% below the average consensus analyst price target of $48.38. Tempur-Pedic International shares should first meet resistance at the 50-day moving average (MA) of $59.62 and find additional resistance at the 200-day MA of $68.49.

In the past 52 weeks, shares of Tempur-Pedic International have traded between a low of $41.11 and a high of $82.61 and are now at $45.07, which is 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.5%.

SmarTrend is tracking the current trend status for Tempur-Pedic International and will alert subscribers who have TPX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle tempur-pedic international

Ticker(s): TPX