• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Coty Inc-Cl A (NYSE:COTY)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Coty Inc-Cl A (NYSE:COTY) based on the price action in the company's shares. Today's price range of $10.55 and $10.72 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 Coty Inc-Cl A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Coty, Inc. manufactures and distributes beauty products. The Company offers fragrances, color cosmetics, hygiene, sun care, and skin treatment products. Coty supplies its products to department stores, specialty retailers, mass-market retailers, and duty free shops in airports worldwide.

Coty Inc-Cl A share prices have moved between a 52-week high of $14.03 and a 52-week low of $5.91 and are now trading 79% above that low price at $10.60 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 2.6%.

Coty Inc-Cl A has overhead space with shares priced $10.60, or 40.3% below the average consensus analyst price target of $17.76. The stock should find initial support at its 50-day moving average (MA) of $10.44 and further support at its 200-day MA of $10.30.

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

Keywords: bearish inside day candle coty inc-cl a

Ticker(s): COTY