• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Terex Corp (NYSE:TEX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Terex Corp (NYSE:TEX) based on the price action in the company's shares. Yesterday's price range of $28.21 and $28.68 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 Terex Corp 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 58.9% exists for Terex Corp, based on a current level of $28.61 and analysts' average consensus price target of $45.47. Terex Corp shares should encounter resistance at the 200-day moving average (MA) of $29.58 and support at the 50-day MA of $26.16.

In the past 52 weeks, Terex Corp share prices have been bracketed by a low of $22.84 and a high of $38.57 and closed yesterday at $28.61, 25% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

Terex Corporation is a diversified global manufacturer operating in four business segments such as aerial work platforms, construction, cranes, and materials processing. Terex manufactures a broad range of equipment for use in various industries including the construction, infrastructure, quarrying, mining, shipping, transportation, refining, energy, and utility industries.

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

Keywords: bullish am inside day candle terex corp

Ticker(s): TEX