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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Visteon (NYSE:VC) based on the price action in the company's shares. Yesterday's price range of $70.55 and $71.38 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 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 has overhead space with shares priced $71.14, or 45.4% below the average consensus analyst price target of $130.25. The stock should run into initial resistance at its 50-day moving average (MA) of $76.98 and subsequent resistance at its 200-day MA of $95.15.

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.

Visteon share prices have moved between a 52-week high of $121.65 and a 52-week low of $58.83 and closed yesterday at 21% above that low price at $71.14 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.9%.

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

Keywords: bullish am inside day candle visteon

Ticker(s): VC