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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. Today's price range of $186.55 and $187.36 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.

Potential upside of 33.6% exists for General Dynamics, based on a current level of $187.36 and analysts' average consensus price target of $250.38. General Dynamics shares have support at the 50-day moving average (MA) of $181.30 and additional support at the 200-day MA of $173.18.

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 30% above that low price at $187.36 per share. The 200-day and 50-day moving averages have moved 0.13% higher and 0.40% higher over the past week, respectively.

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.

SmarTrend is tracking the current trend status for General Dynamics and will alert subscribers who have GD in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle General Dynamics

Ticker(s): GD