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Possible Bearish Inside Day Candle Pattern Detected for Builders Firstso (NASDAQ:BLDR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Builders Firstso (NASDAQ:BLDR) based on the price action in the company's shares. Today's price range of $16.66 and $16.71 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 Builders Firstso may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Builders Firstso has traded in a range of $10.15 to $20.79 and is now at $16.66, 64% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.9%.

Potential upside of 52.5% exists for Builders Firstso, based on a current level of $16.66 and analysts' average consensus price target of $25.40. The stock should discover initial support at its 200-day moving average (MA) of $13.99 and subsequent support at its 50-day MA of $13.89.

Builders FirstSource, Inc. manufactures and distributes building products to professional homebuilders.

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

Keywords: bearish inside day candle builders firstso

Ticker(s): BLDR