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

By Nick Russo

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 $61.37 and $61.37 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.

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.

Ball Corp (NYSE:BLL) is currently priced 27.4% above its average consensus analyst price target of $44.55. The stock should discover initial support at its 50-day moving average (MA) of $57.60 and subsequent support at its 200-day MA of $48.78.

In the past 52 weeks, shares of Ball Corp have traded between a low of $34.71 and a high of $61.76 and are now at $61.37, which is 77% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Ball Corp on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.04. Since that recommendation, shares of Ball Corp have risen 30.8%. 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