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Possible Bullish Inside Day Candle Pattern Detected for Tempur Sealy Int (NYSE:TPX)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Tempur Sealy Int (NYSE:TPX) based on the price action in the company's shares. Yesterday's price range of $46.26 and $47.51 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 Tempur Sealy Int 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, Tempur Sealy Int share prices have been bracketed by a low of $39.57 and a high of $82.32 and closed yesterday at $47.32, 20% 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%.

Tempur Sealy International Inc., through its primary subsidiary manufactures and markets foam mattresses, pillows, and miscellaneous products under its own and other brand names.

There is potential upside of 39.5% for shares of Tempur Sealy Int based on a current price of $47.32 and an average consensus analyst price target of $66.00. The stock should run into initial resistance at its 50-day moving average (MA) of $59.62 and subsequent resistance at its 200-day MA of $68.49.

SmarTrend recommended that its subscribers protect gains by selling shares of Tempur Sealy Int on February 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $57.81. Since that call, shares of Tempur Sealy Int have fallen 18.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle tempur sealy int

Ticker(s): TPX