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Possible Bearish Inside Day Candle Pattern Detected for Brunswick Corp (NYSE:BC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Brunswick Corp (NYSE:BC) based on the price action in the company's shares. Today's price range of $52.52 and $52.74 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 Brunswick Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 35.4% exists for Brunswick Corp, based on a current level of $52.52 and analysts' average consensus price target of $71.13. The stock should find resistance at its 200-day moving average (MA) of $55.55, as well as support at its 50-day MA of $52.00.

Brunswick Corp share prices have moved between a 52-week high of $69.82 and a 52-week low of $41.92 and are now trading 25% above that low price at $52.52 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.4%.

Brunswick Corporation manufactures consumer products serving the outdoor and indoor active recreation markets. The Company's products include sterndrives, outboard, and inboard marine engines, fitness, billiards, and bowling equipment. Brunswick also manufactures pleasure, fishing, and high performance boats.

SmarTrend is tracking the current trend status for Brunswick Corp and will alert subscribers who have BC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle brunswick corp

Ticker(s): BC