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Possible Bearish Inside Day Candle Pattern Detected for Air Prods & Chem (NYSE:APD)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Air Prods & Chem (NYSE:APD) based on the price action in the company's shares. Today's price range of $208.18 and $208.18 is within yesterday'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 Air Prods & Chem may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Air Prods & Chem (NYSE:APD) is currently priced 10.5% above its average consensus analyst price target of $186.22. The stock should find initial support at its 50-day moving average (MA) of $195.40 and further support at its 200-day MA of $171.17.

Air Products and Chemicals, Inc. produces industrial atmospheric and specialty gases and performance materials and equipment. The Company's products include oxygen, nitrogen, argon, helium, specialty surfactants and amines, polyurethane, epoxy curatives, and resins. Air Products and Chemicals products are used in the beverage, health, and semiconductors fields.

Air Prods & Chem share prices have moved between a 52-week high of $209.87 and a 52-week low of $148.44 and are now trading 40% above that low price at $208.18 per share. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of Air Prods & Chem on December 28th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $161.04. Since that recommendation, shares of Air Prods & Chem have risen 30.3%. We continue to monitor APD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle air prods & chem

Ticker(s): APD