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Possible Bearish Inside Day Candle Pattern Detected for Transdigm Group (NYSE:TDG)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Transdigm Group (NYSE:TDG) based on the price action in the company's shares. Yesterday's price range of $354.79 and $362.23 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 Transdigm Group 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, Transdigm Group share prices have been bracketed by a low of $200.06 and a high of $673.51 and closed yesterday at $363.08, 81% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 5.8% while the 200-day MA has slid 0.6%.

TransDigm Group, Inc., through subsidiaries, manufactures aircraft components. The Company produces ignition systems and components, gear pumps, mechanical and electromechanical actuators and controls, NiCad batteries and chargers, power conditioning devices, hold-open rods and locking devices, engineered connectors and latches, cockpit security devices, and AC and DC motors.

Transdigm Group (NYSE:TDG) defies analysts with a current price ($363.08) 2.1% above its average consensus price target of $355.40. Transdigm Group shares should first meet resistance at the 50-day moving average (MA) of $391.79 and find additional resistance at the 200-day MA of $513.95.

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

Keywords: bearish am inside day candle transdigm group

Ticker(s): TDG