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Possible Bullish Inside Day Candle Pattern Detected for Transunion (NYSE:TRU)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Transunion (NYSE:TRU) based on the price action in the company's shares. Yesterday's price range of $56.87 and $57.79 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 Transunion 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, shares of Transunion have traded between a low of $28.92 and a high of $61.42 and closed yesterday at $57.32, which is 98% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 0.4%.

There is potential upside of 0.9% for shares of Transunion based on a current price of $57.32 and an average consensus analyst price target of $57.83. The stock should discover initial support at its 50-day moving average (MA) of $27.29 and subsequent support at its 200-day MA of $25.86.

TransUnion operates as a credit reporting agency. The Company offers consumer reports, risk scores, analytical services, and decisioning capabilities to businesses. TransUnion provides risk and information solutions to businesses and consumers.

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

Keywords: bullish am inside day candle transunion

Ticker(s): TRU