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Possible Bearish Inside Day Candle Pattern Detected for Ashland Global H (NYSE:ASH)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ashland Global H (NYSE:ASH) based on the price action in the company's shares. Today's price range of $73.14 and $74.16 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 Ashland Global H may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ashland Global Holdings Inc. operates as a holding company. The Company, through its subsidiaries, produces and distributes chemicals and thermoplastic resins. Ashland Global Holdings serves construction, automotive, energy, and pharmaceutical sectors worldwide.

In the past 52 weeks, shares of Ashland Global H have traded between a low of $59.80 and a high of $128.19 and are now at $73.76, which is 23% above that low price. The 200-day and 50-day moving averages have moved 0.47% lower and 2.88% lower over the past week, respectively.

Potential upside of 8.9% exists for Ashland Global H, based on a current level of $73.76 and analysts' average consensus price target of $80.33. Ashland Global H shares should first meet resistance at the 50-day moving average (MA) of $78.41 and find additional resistance at the 200-day MA of $105.78.

SmarTrend is tracking the current trend status for Ashland Global H and will alert subscribers who have ASH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle ashland global h

Ticker(s): ASH