• 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 $230.42 and $232.46 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.

Constellation-A share prices have moved between a 52-week high of $236.62 and a 52-week low of $176.21 and closed yesterday at 32% above that low price at $232.26 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

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 $232.26, or 8.3% below the average consensus analyst price target of $253.29. The stock should find initial support at its 50-day moving average (MA) of $225.06 and further support at its 200-day MA of $218.41.

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 am inside day candle constellation-a

Ticker(s): STZ