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

By David Diaz

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 $207.02 and $208.69 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.

There is potential upside of 20.3% for shares of General Dynamics based on a current price of $208.12 and an average consensus analyst price target of $250.38. The stock should run into initial resistance at its 200-day moving average (MA) of $208.81 and subsequent resistance at its 50-day MA of $212.26.

In the past 52 weeks, General Dynamics share prices have been bracketed by a low of $191.00 and a high of $230.00 and closed yesterday at $208.12, 9% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

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