Possible Bullish Inside Day Candle Pattern Detected for Toll Brothers (NYSE:TOL)
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. Yesterday's price range of $25.71 and $26.23 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 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.
Toll Brothers has overhead space with shares priced $26.11, or 36.0% below the average consensus analyst price target of $40.81. Toll Brothers shares should first meet resistance at the 50-day moving average (MA) of $28.58 and find additional resistance at the 200-day MA of $32.95.
In the past 52 weeks, shares of Toll Brothers have traded between a low of $23.75 and a high of $42.19 and closed yesterday at $26.11, which is 10% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 0.7%.
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.
SmarTrend recommended that its subscribers protect gains by selling shares of Toll Brothers on June 14th, 2016 by issuing a Downtrend alert when the shares were trading at $27.58. Since that call, shares of Toll Brothers have fallen 7.7%. 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 Toll Brothers