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Possible Bearish Inside Day Candle Pattern Detected for Ball Corp (NYSE:BLL)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ball Corp (NYSE:BLL) based on the price action in the company's shares. Yesterday's price range of $71.40 and $71.70 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 Ball Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ball Corporation provides metal packaging for beverages, foods, and household products. The Company also supplies aerospace and other technologies and services to commercial and governmental customers. Ball serves customers worldwide.

Based on a current price of $71.87, Ball Corp is currently 38.0% above its average consensus analyst price target of $44.55. The stock should discover initial support at its 200-day moving average (MA) of $68.40 and subsequent support at its 50-day MA of $65.78.

Ball Corp share prices have moved between a 52-week high of $81.88 and a 52-week low of $48.81 and closed yesterday at 47% above that low price at $71.87 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.

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

Keywords: bearish am inside day candle ball corp

Ticker(s): BLL