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Possible Bearish Inside Day Candle Pattern Detected for Trinity Industri (NYSE:TRN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Trinity Industri (NYSE:TRN) based on the price action in the company's shares. Yesterday's price range of $18.13 and $18.97 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 Trinity Industri may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Trinity Industries, Inc. manufactures transportation, construction, and industrial products. The Company's products include tank and freight railcars, inland hopper and tank barges, highway guardrail and safety products, ready-mix concrete, and other products. Trinity markets its products internationally.

There is potential upside of 121.7% for shares of Trinity Industri based on a current price of $18.72 and an average consensus analyst price target of $41.50. The stock should find resistance at its 200-day moving average (MA) of $19.43, as well as support at its 50-day MA of $17.61.

Over the past year, Trinity Industri has traded in a range of $14.53 to $24.64 and closed yesterday at $18.72, 29% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 2.2%.

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

Keywords: bearish am inside day candle trinity industri

Ticker(s): TRN