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Possible Bearish Inside Day Candle Pattern Detected for Church & Dwight (NYSE:CHD)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Church & Dwight (NYSE:CHD) based on the price action in the company's shares. Yesterday's price range of $74.81 and $75.74 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 Church & Dwight 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, shares of Church & Dwight have traded between a low of $59.64 and a high of $80.99 and closed yesterday at $74.74, which is 25% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

Church & Dwight (NYSE:CHD) is currently priced 32.9% above its average consensus analyst price target of $50.12. The stock should find initial support at its 200-day moving average (MA) of $73.52 and further support at its 50-day MA of $70.62.

Church & Dwight Co., Inc. develops, manufactures, and distributes household, personal care, and specialty products. The Company offers contraceptive products, laundry and dishwashing detergents, toothbrushes, shampoos, vitamins, pregnancy test kits, and hair removers. Church & Dwight sells its products to consumers through supermarkets, mass merchandisers, drugstores, and websites.

SmarTrend is tracking the current trend status for Church & Dwight and will alert subscribers who have CHD in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle church & dwight

Ticker(s): CHD