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

Published on Mon, 07/22/2013 - 07:48
By Mallory Stone

Analyzing the price chart for Federal Signal (NYSE:FSS) has revealed a potential bearish inside day candle pattern. Yesterday's price range of $10.11 and $10.28 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.

In the past 52 weeks, Federal Signal share prices have been bracketed by a low of $4.85 and a high of $10.40 and closed yesterday at $10.17, 110% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 2.4%.

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.

Federal Signal (NYSE:FSS) is currently priced 1.7% above its average consensus analyst price target of $10.00. The stock should find initial support at its 50-day moving average (MA) of $8.99 and further support at its 200-day MA of $7.63.

By Mallory Stone