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Possible Bullish Inside Day Candle Pattern Detected for Triumph Group (NYSE:TGI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Triumph Group (NYSE:TGI) based on the price action in the company's shares. Yesterday's price range of $18.69 and $19.45 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 Triumph Group 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 34.8% exists for Triumph Group, based on a current level of $19.36 and analysts' average consensus price target of $26.10. Triumph Group shares should first meet resistance at the 200-day moving average (MA) of $19.52 and find additional resistance at the 50-day MA of $21.90.

Over the past year, Triumph Group has traded in a range of $11.16 to $26.00 and closed yesterday at $19.36, 73% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Triumph Group, Inc. designs, engineers, manufactures, repairs, overhauls, and distributes aerostructures, aircraft components, accessories, subassemblies, and systems worldwide. The company operates in three segments: Integrated Systems, Aerospace Structures, and Product Support.

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

Keywords: bullish am inside day candle triumph group

Ticker(s): TGI