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

By Amy Schwartz

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. Today's price range of $230.49 and $232.00 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 Constellation-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Constellation-A (NYSE:STZ) has potential upside of 9.9% based on a current price of $230.49 and analysts' consensus price target of $253.29. Constellation-A shares have support at the 50-day moving average (MA) of $224.96 and additional support at the 200-day MA of $218.24.

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.

In the past 52 weeks, shares of Constellation-A have traded between a low of $176.21 and a high of $236.62 and are now at $230.49, which is 31% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.4%.

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

Keywords: bearish inside day candle constellation-a

Ticker(s): STZ