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

By David Diaz

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. Yesterday's price range of $67.89 and $68.67 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 Brunswick 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, Brunswick Corp share prices have been bracketed by a low of $48.04 and a high of $69.27 and closed yesterday at $67.98, 42% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.9%.

There is potential upside of 4.6% for shares of Brunswick Corp based on a current price of $67.98 and an average consensus analyst price target of $71.13. The stock should find initial support at its 50-day moving average (MA) of $62.40 and further support at its 200-day MA of $57.88.

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 recommended that subscribers consider buying shares of Brunswick Corp on November 27th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.00. Since that recommendation, shares of Brunswick Corp have risen 29.8%. We continue to monitor BC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle brunswick corp

Ticker(s): BC