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Possible Bearish Inside Day Candle Pattern Detected for Alexander & Bald (NYSE:ALEX)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Alexander & Bald (NYSE:ALEX) based on the price action in the company's shares. Today's price range of $23.39 and $23.39 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 Alexander & Bald may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Alexander & Bald share prices have moved between a 52-week high of $25.43 and a 52-week low of $17.58 and are now trading 33% above that low price at $23.39 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.7%.

Potential upside of 31.1% exists for Alexander & Bald, based on a current level of $23.39 and analysts' average consensus price target of $30.67. The stock should find initial support at its 50-day moving average (MA) of $22.71 and further support at its 200-day MA of $22.11.

Alexander & Baldwin Inc operates a real estate and agriculture business. The Company owns, operates and manages land nationwide. Alexander & Baldwin also cultivates raw and specialty sugars, and molasses.

SmarTrend is tracking the current trend status for Alexander & Bald and will alert subscribers who have ALEX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle alexander & bald

Ticker(s): ALEX