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Possible Bullish Inside Day Candle Pattern Detected for Toll Brothers (NYSE:TOL)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Toll Brothers (NYSE:TOL) based on the price action in the company's shares. Today's price range of $25.87 and $26.23 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 Toll Brothers 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 56.4% exists for Toll Brothers, based on a current level of $26.09 and analysts' average consensus price target of $40.81. The stock should find initial resistance at its 50-day moving average (MA) of $28.58 and further resistance at its 200-day MA of $32.95.

Toll Brothers, Inc. builds luxury homes, serving both move-up and empty nester buyers in several regions of the United States. The Company builds customized single and attached homes, primarily on land that it develops and improves. Toll Brothers also operates its own architectural, engineering, mortgage, title, security, landscape, insurance brokerage, and manufacturing operations.

In the past 52 weeks, Toll Brothers share prices have been bracketed by a low of $23.75 and a high of $42.19 and are now at $26.09, 10% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 0.2%.

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

Keywords: bullish inside day candle Toll Brothers

Ticker(s): TOL