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Possible Bullish Inside Day Candle Pattern Detected for Pentair Plc (NYSE:PNR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Pentair Plc (NYSE:PNR) based on the price action in the company's shares. Yesterday's price range of $29.55 and $30.09 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 Pentair 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.

Pentair Plc has overhead space with shares priced $30.04, or 38.1% below the average consensus analyst price target of $48.53. Pentair Plc shares should first meet resistance at the 50-day moving average (MA) of $34.53 and find additional resistance at the 200-day MA of $39.20.

Pentair Plc share prices have moved between a 52-week high of $47.43 and a 52-week low of $22.01 and closed yesterday at 36% above that low price at $30.04 per share. The 200-day and 50-day moving averages have moved 0.3% lower and 2.32% lower over the past week, respectively.

Pentair PLC delivers services and solutions for its customer's diverse needs in water and other fluids, thermal management, and equipment protection. The Company is organized as three operating segments, water and fluid solutions, valves and controls, and technical solutions. Pentair manufactures and distributes its products worldwide.

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

Keywords: bullish am inside day candle pentair plc

Ticker(s): PNR