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Possible Bullish Inside Day Candle Pattern Detected for Total (NYSE:TOT)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Total (NYSE:TOT) based on the price action in the company's shares. Today's price range of $47.42 and $47.65 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 Total may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Total SA explores for, produces, refines, transports, and markets oil and natural gas. The Company also operates a chemical division which produces polypropylene, polyethylene, polystyrene, rubber, paint, ink, adhesives, and resins. Total operates gasoline filling stations in Europe, the United States, and Africa.

In the past 52 weeks, shares of Total have traded between a low of $39.05 and a high of $54.53 and are now at $47.54, which is 22% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Potential upside of 12.2% exists for Total, based on a current level of $47.54 and analysts' average consensus price target of $53.32. The stock should discover initial support at its 50-day moving average (MA) of $47.02 and subsequent support at its 200-day MA of $46.60.

SmarTrend is tracking the current trend status for Total and will alert subscribers who have TOT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle Total

Ticker(s): TOT