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

By Amy Schwartz

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 $20.12 and $20.42 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.

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.

Potential upside of 29.0% exists for Triumph Group, based on a current level of $20.23 and analysts' average consensus price target of $26.10. The stock should discover initial support at its 200-day moving average (MA) of $19.20 and subsequent support at its 50-day MA of $18.64.

In the past 52 weeks, Triumph Group share prices have been bracketed by a low of $11.16 and a high of $29.60 and closed yesterday at $20.23, 81% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 3.7%.

SmarTrend is monitoring the recent change of momentum in Triumph Group. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Triumph Group in search of a potential trend change.

Keywords: bullish am inside day candle triumph group

Ticker(s): TGI