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Possible Bullish Inside Day Candle Pattern Detected for Visteon Corp (NASDAQ:VC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Visteon Corp (NASDAQ:VC) based on the price action in the company's shares. Yesterday's price range of $127.98 and $130.86 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 Visteon Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Visteon Corporation supplies automotive systems, modules, and components to vehicle manufacturers and the aftermarket on a worldwide basis. The Company manufactures products such as climate control systems, electronics, interiors, and lighting.

In the past 52 weeks, Visteon Corp share prices have been bracketed by a low of $102.37 and a high of $140.64 and closed yesterday at $128.25, 25% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

Visteon Corp has overhead space with shares priced $128.25, or 8.9% below the average consensus analyst price target of $140.77. The stock should hit resistance at its 50-day moving average (MA) of $130.34, as well as support at its 200-day MA of $125.90.

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

Keywords: bullish am inside day candle visteon corp

Ticker(s): VC