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Possible Bearish Inside Day Candle Pattern Detected for Fortune Brands H (NYSE:FBHS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Fortune Brands H (NYSE:FBHS) based on the price action in the company's shares. Yesterday's price range of $54.03 and $54.67 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 Fortune Brands H may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 22.6% exists for Fortune Brands H, based on a current level of $54.25 and analysts' average consensus price target of $66.50. The stock should find initial support at its 50-day moving average (MA) of $53.16 and further support at its 200-day MA of $48.58.

Fortune Brands Home & Security, Inc. provides home and security products. The Company's business lines include kitchen and bath cabinetry, plumbing, accessories, advanced material windows, door systems, and security and storage.

Fortune Brands H share prices have moved between a 52-week high of $58.15 and a 52-week low of $35.27 and closed yesterday at 54% above that low price at $54.25 per share. The 200-day and 50-day moving averages have moved 0.32% higher and 0.7% lower over the past week, respectively.

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

Keywords: bearish am inside day candle fortune brands h

Ticker(s): FBHS