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Possible Bearish Inside Day Candle Pattern Detected for Chemours Co (NYSE:CC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Chemours Co (NYSE:CC) based on the price action in the company's shares. Yesterday's price range of $14.35 and $14.80 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 Chemours Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Chemours Co (NYSE:CC) has potential upside of 332.7% based on a current price of $14.66 and analysts' consensus price target of $63.44. The stock should find resistance at its 200-day moving average (MA) of $26.60, as well as support at its 50-day MA of $14.22.

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Fluoroproducts, Chemical Solutions, and Titanium Technologies.

In the past 52 weeks, shares of Chemours Co have traded between a low of $11.71 and a high of $41.60 and closed yesterday at $14.66, which is 25% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1.2%.

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

Keywords: bearish am inside day candle chemours co

Ticker(s): CC