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Possible Bullish Inside Day Candle Pattern Detected for Titan Intl Inc (NYSE:TWI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Titan Intl Inc (NYSE:TWI) based on the price action in the company's shares. Yesterday's price range of $2.54 and $2.60 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 Titan Intl Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Titan International, Inc. manufactures mounted tire and wheel systems for off-highway equipment used in agriculture, construction, mining, military, recreation, and grounds care. The Company has worldwide manufacturing and distribution facilities.

Titan Intl Inc (NYSE:TWI) has potential upside of 527.5% based on a current price of $2.55 and analysts' consensus price target of $16.00. The stock should run into initial resistance at its 50-day moving average (MA) of $3.31 and subsequent resistance at its 200-day MA of $3.60.

In the past 52 weeks, Titan Intl Inc share prices have been bracketed by a low of $2.25 and a high of $7.25 and closed yesterday at $2.55, 13% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.8% while the 50-day MA has declined 0.8%.

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

Keywords: bullish am inside day candle titan intl inc

Ticker(s): TWI