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Possible Bearish Inside Day Candle Pattern Detected for Apogee Enterpr (NASDAQ:APOG)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Apogee Enterpr (NASDAQ:APOG) based on the price action in the company's shares. Yesterday's price range of $35.91 and $35.91 is within the prior day'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 Apogee Enterpr may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Apogee Enterprises, Inc. designs and develops value-added glass products. The Company offers glass and aluminum windows, storefront and curtainwall systems, and glass for framed art and pictures. Apogee Enterprises serves customers in the United States, Brazil, and Canada.

Apogee Enterpr share prices have moved between a 52-week high of $50.87 and a 52-week low of $26.38 and closed yesterday at 36% above that low price at $35.91 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 0.3%.

Apogee Enterpr has overhead space with shares priced $35.91, or 28.9% below the average consensus analyst price target of $50.50. Apogee Enterpr shares should encounter resistance at the 200-day moving average (MA) of $40.35 and support at the 50-day MA of $34.73.

SmarTrend recommended that subscribers consider buying shares of Apogee Enterpr on January 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.92. Since that recommendation, shares of Apogee Enterpr have risen 9.7%. We continue to monitor APOG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle apogee enterpr

Ticker(s): APOG