Possible Bearish Inside Day Candle Pattern Detected for CareFusion (NYSE:CFN)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in CareFusion (NYSE:CFN) based on the price action in the company's shares. Today's price range of $37.07 and $37.52 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 CareFusion may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
CareFusion has overhead space with shares priced $37.12, or 7.4% below the average consensus analyst price target of $40.09. The stock should discover initial support at its 50-day moving average (MA) of $37.04 and subsequent support at its 200-day MA of $34.68.
CareFusion Corporation provides health care products and services. The Company offers products that focus on breaking the cycle of harmful medication errors and reducing hospital acquired infections. CareFusion's products include IV pumps, automated dispensing and patient identification systems, electronic infection surveillance service, and ventilation and respiratory products.
In the past 52 weeks, CareFusion share prices have been bracketed by a low of $26.00 and a high of $39.38 and are now at $37.12, 43% above that low price. The 200-day and 50-day moving averages have moved 0.39% higher and 0.27% lower over the past week, respectively.
SmarTrend is tracking the current trend status for CareFusion and will alert subscribers who have CFN in their portfolio or watchlist when shares have changed trend direction.
Keywords: bearish inside day candle carefusion