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

By David Diaz

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 $222.55 and $223.19 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 16.3% above its average consensus analyst price target of $186.22. The stock should find resistance at its 50-day moving average (MA) of $225.58, as well as support at its 200-day MA of $195.69.

In the past 52 weeks, shares of Air Prods & Chem have traded between a low of $148.44 and a high of $232.47 and are now at $222.59, which is 50% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has risen 0.8%.

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.

SmarTrend is tracking the current trend status for Air Prods & Chem and will alert subscribers who have APD in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle air prods & chem

Ticker(s): APD