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Possible Bearish Inside Day Candle Pattern Detected for EI Du Pont de Nemours (NYSE:DD)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in EI Du Pont de Nemours (NYSE:DD) based on the price action in the company's shares. Today's price range of $82.90 and $83.44 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 EI Du Pont de Nemours may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

E. I. du Pont de Nemours and Company is a global chemical and life sciences company, with businesses that include agriculture and industrial biotechnology, chemistry, biology, materials science and manufacturing. The Company operates globally and offers a wide range of products and services for markets including agriculture and food, building and construction, electronics and communications.

Over the past year, EI Du Pont de Nemours has traded in a range of $47.11 to $83.93 and is now at $82.95, 76% above that low. The 200-day and 50-day moving averages have moved 0.17% higher and 0.65% higher over the past week, respectively.

EI Du Pont de Nemours (NYSE:DD) has potential upside of 2.2% based on a current price of $82.95 and analysts' consensus price target of $84.80. The stock should discover initial support at its 50-day moving average (MA) of $64.05 and subsequent support at its 200-day MA of $59.61.

SmarTrend recommended that subscribers consider buying shares of EI Du Pont de Nemours on June 2nd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $80.45. Since that recommendation, shares of EI Du Pont de Nemours have risen 3.9%. We continue to monitor DD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle ei du pont de nemours

Ticker(s): DD