Possible Bearish Inside Day Candle Pattern Detected for Federal Signal (NYSE:FSS)

Published on Fri, 02/20/2015 - 08:11
By Mallory Stone in Candlestick, FSS, bearish am inside day candle, federal signal, nyse:fss

Analyzing the price chart for Federal Signal (NYSE:FSS) has revealed a potential bearish inside day candle pattern. Yesterday's price range of $15.87 and $16.11 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. Owners of Federal Signal may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Federal Signal has overhead space with shares priced $15.89, or 14.1% below the average consensus analyst price target of $18.50. The stock should discover initial support at its 50-day moving average (MA) of $15.38 and subsequent support at its 200-day MA of $14.63.

Federal Signal Corporation manufactures and supplies safety, signaling, and communications equipment. The Company's equipment includes fire rescue products, street sweeping and vacuum loader vehicles, parking control equipment, custom on-premise signage, carbide cutting tools, precision punches and dies, and plastic injection mold components.

In the past 52 weeks, Federal Signal share prices have been bracketed by a low of $11.66 and a high of $16.52 and closed yesterday at $15.89, 36% above that low price. The 200-day and 50-day moving averages have moved 0.15% higher and 0.22% higher over the past week, respectively.

By Mallory Stone
mstone@fnno.com

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