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Possible Bearish Inside Day Candle Pattern Detected for General Dynamics (NYSE:GD)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in General Dynamics (NYSE:GD) based on the price action in the company's shares. Yesterday's price range of $170.72 and $170.72 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 General Dynamics may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

General Dynamics Corporation is a diversified defense company. The Company offers a broad portfolio of products and services in business aviation, combat vehicles, weapons systems, munitions, shipbuilding design and construction, information systems, and technologies.

General Dynamics share prices have moved between a 52-week high of $229.74 and a 52-week low of $143.87 and closed yesterday at 19% above that low price at $170.72 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.3%.

Potential upside of 46.7% exists for General Dynamics, based on a current level of $170.72 and analysts' average consensus price target of $250.38. General Dynamics shares should encounter resistance at the 200-day moving average (MA) of $183.26 and support at the 50-day MA of $169.36.

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

Keywords: bearish am inside day candle General Dynamics

Ticker(s): GD