• Return to Headlines

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

By David Diaz

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. Today's price range of $54.50 and $54.95 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 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.

Over the past year, Fortune Brands H has traded in a range of $35.27 to $58.75 and is now at $54.95, 56% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

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 has overhead space with shares priced $54.95, or 17.4% below the average consensus analyst price target of $66.50. Fortune Brands H shares have support at the 50-day moving average (MA) of $48.41 and additional support at the 200-day MA of $47.98.

SmarTrend recommended that subscribers consider buying shares of Fortune Brands H on April 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $49.75. Since that recommendation, shares of Fortune Brands H have risen 11.7%. We continue to monitor FBHS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle fortune brands h

Ticker(s): FBHS