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Possible Bearish Inside Day Candle Pattern Detected for Fluor Corp (NYSE:FLR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Fluor Corp (NYSE:FLR) based on the price action in the company's shares. Today's price range of $40.79 and $40.99 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 Fluor Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Fluor Corporation is a professional services company. The Company provides engineering, procurement, construction, and maintenance, as well as project management services on a global basis. Fluor also provides outsourcing of maintenance services and asset operations, equipment rental and sales, business support services, and other services.

In the past 52 weeks, shares of Fluor Corp have traded between a low of $29.78 and a high of $62.08 and are now at $40.79, which is 37% above that low price. The 200-day and 50-day moving averages have moved 0.27% lower and 0.72% higher over the past week, respectively.

Fluor Corp (NYSE:FLR) has potential upside of 37.5% based on a current price of $40.79 and analysts' consensus price target of $56.08. The stock should find resistance at its 200-day moving average (MA) of $44.50, as well as support at its 50-day MA of $37.68.

SmarTrend is tracking the current trend status for Fluor Corp and will alert subscribers who have FLR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle fluor corp

Ticker(s): FLR