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

By Shiri Gupta

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 $38.87 and $39.24 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.

In the past 52 weeks, Apogee Enterpr share prices have been bracketed by a low of $26.38 and a high of $50.87 and closed yesterday at $39.15, 48% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.9%.

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 has overhead space with shares priced $39.15, or 22.5% below the average consensus analyst price target of $50.50. The stock should find resistance at its 200-day moving average (MA) of $39.83, as well as support at its 50-day MA of $35.92.

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

Keywords: bearish am inside day candle apogee enterpr

Ticker(s): APOG