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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. Today's price range of $176.80 and $177.26 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 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 $207.72 and a 52-week low of $143.87 and are now trading 23% above that low price at $177.26 per share. The 200-day and 50-day moving averages have moved 0.23% lower and 0.18% higher over the past week, respectively.

There is potential upside of 41.3% for shares of General Dynamics based on a current price of $177.26 and an average consensus analyst price target of $250.38. The stock should find initial support at its 200-day moving average (MA) of $175.69 and further support at its 50-day MA of $171.64.

SmarTrend recommended that subscribers consider buying shares of General Dynamics on June 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $170.10. Since that recommendation, shares of General Dynamics have risen 4.6%. We continue to monitor GD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle General Dynamics

Ticker(s): GD