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Ingredion Inc Looks to Continue to Trade Below its Annual-Low Share Price Today

By Shiri Gupta

Shares of Ingredion Inc (NYSE:INGR) traded at a new 52-week low today of $99.67. This new low was reached on above average trading volume as 953,000 shares traded hands, while the average 30-day volume is approximately 453,000 shares.

In the past 52 weeks, shares of Ingredion Inc have traded between the current low of $99.67 and a high of $146.28 and are now at $100.01. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

There is potential upside of 29.0% for shares of Ingredion Inc based on a current price of $100.01 and an average consensus analyst price target of $129.00. The stock should run into initial resistance at its 50-day moving average (MA) of $112.36 and subsequent resistance at its 200-day MA of $126.87.

Ingredion Incorporated refines corn and produces sweeteners and starches. The Company has customers in a wide range of industries, including the food, soft drink, brewing, pharmaceutical, corrugating, paper, and textile industries. Ingredion has Company-owned operations, joint ventures, alliances, and technical licenses in countries around the world.

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

Keywords: 52 week high/lows ingredion inc

Ticker(s): INGR