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Possible Bearish Inside Day Candle Pattern Detected for Triumph Group (NYSE:TGI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Triumph Group (NYSE:TGI) based on the price action in the company's shares. Yesterday's price range of $7.01 and $8.01 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 Triumph Group may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Triumph Group has traded in a range of $3.02 to $29.32 and closed yesterday at $7.03, 133% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 9.1%.

There is potential upside of 271.3% for shares of Triumph Group based on a current price of $7.03 and an average consensus analyst price target of $26.10. Triumph Group shares should first meet resistance at the 50-day moving average (MA) of $17.42 and find additional resistance at the 200-day MA of $22.04.

Triumph Group, Inc. designs, engineers, manufactures, repairs, overhauls, and distributes aircraft components, including mechanical and electromechanical control systems, aircraft and engine accessories, auxiliary power units, avionics, and aircraft instruments. The Company serves commercial airlines, air cargo carriers, and various original equipment manufacturers.

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

Keywords: bearish am inside day candle triumph group

Ticker(s): TGI