• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Crown Holdings I (NYSE:CCK)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Crown Holdings I (NYSE:CCK) based on the price action in the company's shares. Yesterday's price range of $56.52 and $56.97 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 Crown Holdings I 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 Crown Holdings I have traded between a low of $39.05 and a high of $61.31 and closed yesterday at $56.89, which is 46% above that low price. The 200-day and 50-day moving averages have moved 0.47% higher and 0.18% higher over the past week, respectively.

Crown Holdings, Inc. designs, manufactures, and sells packaging products for consumer goods through plants located in countries around the world. The Company's primary products include steel and aluminum cans for food, beverage, household, and other consumer products. Crown also provides a variety of metal caps, closures, and dispensing systems.

There is potential upside of 12.0% for shares of Crown Holdings I based on a current price of $56.89 and an average consensus analyst price target of $63.71. The stock should hit resistance at its 50-day moving average (MA) of $57.69, as well as support at its 200-day MA of $50.32.

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

Keywords: bearish am inside day candle crown holdings i

Ticker(s): CCK