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Possible Bearish Inside Day Candle Pattern Detected for Delphi Automotiv (NYSE:DLPH)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Delphi Automotiv (NYSE:DLPH) based on the price action in the company's shares. Today's price range of $9.20 and $9.72 is within yesterday'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 Delphi Automotiv may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Delphi Technologies PLC provides automotive parts and equipment. The Company develops, designs, and manufactures powertrain technologies for original equipment manufacturers. Delphi Technologies serves customers in the United Kingdom.

Delphi Automotiv share prices have moved between a 52-week high of $23.55 and a 52-week low of $5.39 and are now trading 75% above that low price at $9.41 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 4.7%.

Potential upside of 539.7% exists for Delphi Automotiv, based on a current level of $9.41 and analysts' average consensus price target of $60.20. Delphi Automotiv shares should first meet resistance at the 50-day moving average (MA) of $10.01 and find additional resistance at the 200-day MA of $12.98.

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

Keywords: bearish inside day candle delphi automotiv

Ticker(s): DLPH