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Possible Bullish Inside Day Candle Pattern Detected for Trinseo Sa (NYSE:TSE)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Trinseo Sa (NYSE:TSE) based on the price action in the company's shares. Yesterday's price range of $46.85 and $47.28 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 Trinseo Sa may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Trinseo S.A. manufactures emulsion polymers and plastics. The Company offers a range of plastic, latex, and synthetic rubber products for automotive, consumer electronics, portable appliances, glazing, sheet, board coatings, packaging, and tires. Trinseo operates worldwide.

In the past 52 weeks, shares of Trinseo Sa have traded between a low of $42.10 and a high of $84.90 and closed yesterday at $47.22, which is 12% 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 remained constant.

There is potential upside of 82.6% for shares of Trinseo Sa based on a current price of $47.22 and an average consensus analyst price target of $86.22. Trinseo Sa shares should first meet resistance at the 50-day moving average (MA) of $47.66 and find additional resistance at the 200-day MA of $64.52.

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

Keywords: bullish am inside day candle trinseo sa

Ticker(s): TSE