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

By James Quinn

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. Today's price range of $40.97 and $41.39 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 Ball Corp 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, shares of Ball Corp have traded between a low of $33.76 and a high of $43.24 and are now at $41.35, which is 22% above that low price. The 200-day and 50-day moving averages have moved 0.13% higher and 0.40% higher over the past week, respectively.

Potential upside of 8.8% exists for Ball Corp, based on a current level of $41.35 and analysts' average consensus price target of $45.00. The stock should discover initial support at its 200-day moving average (MA) of $38.31 and subsequent support at its 50-day MA of $37.53.

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.

SmarTrend recommended that subscribers consider buying shares of Ball Corp on February 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.80. Since that recommendation, shares of Ball Corp have risen 4.0%. We continue to monitor BLL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle ball corp

Ticker(s): BLL