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Possible Bullish Inside Day Candle Pattern Detected for Transdigm Group (NYSE:TDG)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Transdigm Group (NYSE:TDG) based on the price action in the company's shares. Yesterday's price range of $325.27 and $334.00 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 Transdigm Group may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Transdigm Group has overhead space with shares priced $319.47, or 10.1% below the average consensus analyst price target of $355.40. Transdigm Group shares should first meet resistance at the 50-day moving average (MA) of $369.81 and find additional resistance at the 200-day MA of $510.96.

In the past 52 weeks, shares of Transdigm Group have traded between a low of $200.06 and a high of $673.51 and closed yesterday at $319.47, which is 60% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 4.3%.

TransDigm Group, Inc., through subsidiaries, manufactures aircraft components. The Company produces ignition systems and components, gear pumps, mechanical and electromechanical actuators and controls, NiCad batteries and chargers, power conditioning devices, hold-open rods and locking devices, engineered connectors and latches, cockpit security devices, and AC and DC motors.

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

Keywords: bullish am inside day candle transdigm group

Ticker(s): TDG