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Possible Bearish Inside Day Candle Pattern Detected for Ducommun Inc (NYSE:DCO)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ducommun Inc (NYSE:DCO) based on the price action in the company's shares. Yesterday's price range of $52.41 and $56.80 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 Ducommun Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ducommun Inc (NYSE:DCO) is currently priced 31.1% above its average consensus analyst price target of $37.33. The stock should find initial support at its 50-day moving average (MA) of $44.91 and further support at its 200-day MA of $44.75.

Over the past year, Ducommun Inc has traded in a range of $38.39 to $57.84 and closed yesterday at $54.17, 41% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.4%.

Ducommun Incorporated, through its subsidiaries, manufactures components and assemblies principally for commercial and military aircraft and space programs. The Company's products include aerostructure and cabin interior components, metal-bond composite assemblies, switches, and other electromechanical products.

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

Keywords: bearish am inside day candle ducommun inc

Ticker(s): DCO