• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Constellation-A (NYSE:STZ)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Constellation-A (NYSE:STZ) based on the price action in the company's shares. Yesterday's price range of $200.01 and $200.85 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 Constellation-A 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, Constellation-A has traded in a range of $163.52 to $214.48 and closed yesterday at $200.86, 23% above that low. The 200-day and 50-day moving averages have moved 0.08% lower and 0.51% higher over the past week, respectively.

Constellation Brands, Inc. produces and markets alcoholic beverages in North America, Europe, and Australia, and New Zealand. The Company has a portfolio of brands across the wine, imported beer, and distilled spirits categories. Constellation conducts its business through wholly owned subsidiaries as well as through a variety of joint ventures with various other entities.

Constellation-A has overhead space with shares priced $200.86, or 20.7% below the average consensus analyst price target of $253.29. The stock should find initial support at its 200-day moving average (MA) of $194.61 and further support at its 50-day MA of $188.96.

SmarTrend is tracking the current trend status for Constellation-A and will alert subscribers who have STZ in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle constellation-a

Ticker(s): STZ