• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Allegion Plc (NYSE:ALLE)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Allegion Plc (NYSE:ALLE) based on the price action in the company's shares. Yesterday's price range of $95.10 and $96.20 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. Traders and investors interested in shares of Allegion Plc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Allegion PLC provides security products and solutions. The Company offers mechanical and electronic security products, services, and systems to keep people and places safe. Allegion serves commercial, institutional, and residential customers in the Americas, Europe, the Middle East, India, Africa, and the Asia Pacific.

Allegion Plc share prices have moved between a 52-week high of $139.24 and a 52-week low of $77.37 and closed yesterday at 25% above that low price at $96.74 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.9%.

Allegion Plc (NYSE:ALLE) is currently priced 5.0% above its average consensus analyst price target of $91.90. Allegion Plc shares should first meet resistance at the 50-day moving average (MA) of $100.46 and find additional resistance at the 200-day MA of $110.27.

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

Keywords: bullish am inside day candle allegion plc

Ticker(s): ALLE