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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Motorola Solutio (NYSE:MSI) based on the price action in the company's shares. Yesterday's price range of $146.39 and $148.81 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 Motorola Solutio may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Motorola Solutio has traded in a range of $120.77 to $187.49 and closed yesterday at $151.59, 26% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has slid 0.2%.

Based on a current price of $151.59, Motorola Solutio is currently 20.3% above its average consensus analyst price target of $120.85. The stock should run into initial resistance at its 50-day moving average (MA) of $157.64 and subsequent resistance at its 200-day MA of $166.31.

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 tracking the current trend status for Motorola Solutio and will alert subscribers who have MSI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle motorola solutio

Ticker(s): MSI