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Possible Bearish Inside Day Candle Pattern Detected for Motorola Solutio (NYSE:MSI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Motorola Solutio (NYSE:MSI) based on the price action in the company's shares. Yesterday's price range of $174.61 and $175.52 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 Motorola Solutio may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Motorola Solutio share prices have been bracketed by a low of $113.25 and a high of $182.28 and closed yesterday at $176.73, 56% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

Motorola Solutio (NYSE:MSI) defies analysts with a current price ($176.73) 31.6% above its average consensus price target of $120.85. The stock should discover initial support at its 50-day moving average (MA) of $164.41 and subsequent support at its 200-day MA of $163.25.

Motorola Solutions, Inc. is a data communications and telecommunications equipment provider. The Company develops data capture, wireless, infrastructure, bar code scanning, two-way radios, and wireless broadband networks. Motorola also produces public safety and government products, voice and data communications products and systems, and wireless LAN securities.

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

Keywords: bearish am inside day candle motorola solutio

Ticker(s): MSI