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Possible Bearish Inside Day Candle Pattern Detected for Aar Corp (NYSE:AIR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Aar Corp (NYSE:AIR) based on the price action in the company's shares. Yesterday's price range of $17.68 and $19.84 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. Owners of Aar Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

AAR Corp. supplies aftermarket products and services to the global aviation and aerospace industry. The Company purchases, sells, and leases new and used commercial jet aircraft, as well as leases a variety of new, overhauled, and repaired engines and engine products for the aviation aftermarket. AAR operates worldwide.

Aar Corp share prices have moved between a 52-week high of $52.78 and a 52-week low of $8.56 and closed yesterday at 110% above that low price at $17.99 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 7.7%.

Potential upside of 176.8% exists for Aar Corp, based on a current level of $17.99 and analysts' average consensus price target of $49.80. The stock should run into initial resistance at its 50-day moving average (MA) of $35.34 and subsequent resistance at its 200-day MA of $40.43.

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

Keywords: bearish am inside day candle aar corp

Ticker(s): AIR