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

By Amy Schwartz

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 $42.20 and $42.98 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 Enterpr (NASDAQ:APOG) has potential upside of 18.8% based on a current price of $42.50 and analysts' consensus price target of $50.50. Apogee Enterpr shares should first meet resistance at the 200-day moving average (MA) of $45.53 and find additional resistance at the 50-day MA of $48.61.

Apogee Enterpr share prices have moved between a 52-week high of $51.33 and a 52-week low of $37.24 and closed yesterday at 14% above that low price at $42.50 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 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.

SmarTrend is monitoring the recent change of momentum in Apogee Enterpr. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Apogee Enterpr in search of a potential trend change.

Keywords: bearish am inside day candle apogee enterpr

Ticker(s): APOG