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Possible Bearish Inside Day Candle Pattern Detected for Cf Industries Ho (NYSE:CF)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cf Industries Ho (NYSE:CF) based on the price action in the company's shares. Today's price range of $39.54 and $40.01 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 Cf Industries Ho may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cf Industries Ho share prices have moved between a 52-week high of $45.00 and a 52-week low of $20.77 and are now trading 91% above that low price at $39.61 per share. Over the past week, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 0.2%.

Cf Industries Ho has overhead space with shares priced $39.61, or 5.6% below the average consensus analyst price target of $41.95. Cf Industries Ho shares should encounter resistance at the 200-day moving average (MA) of $43.22 and support at the 50-day MA of $33.12.

CF Industries Holdings, Inc. manufactures and distributes nitrogen and phosphate fertilizer products globally. The Company's principal products in the nitrogen segment are ammonia, urea, urea ammonium nitrate solution, ammonium nitrate, diesel exhaust fluid, and aqua ammonia. The principal products in the phosphate segment are diammonium phosphate and monoammonium phosphate.

SmarTrend is tracking the current trend status for Cf Industries Ho and will alert subscribers who have CF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle cf industries ho

Ticker(s): CF