Timken's stock has recently been on a downward trend but is now displaying indications of a potential recovery. Analysis of the charts reveals the formation of an inverse head and shoulders pattern. This could make it a candidate for swing trading, with the initial target set at the 200-day simple moving average (SMA), followed by the upper trend line. Additionally, on the weekly time frame, the stock has been consolidating within a range for some time.
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Completed target
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.