• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Global Brass & C (NYSE:BRSS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Global Brass & C (NYSE:BRSS) based on the price action in the company's shares. Yesterday's price range of $43.11 and $43.35 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 Global Brass & C may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Global Brass & C have traded between a low of $24.06 and a high of $44.08 and closed yesterday at $43.11, which is 79% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 2.1%.

Global Brass & Copper Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, produces metal melting and casting, rolling, drawing, extruding, and stamping to fabricate alloy products from processed scrap, copper cathode, and other refined metals. Global Brass & Copper Holdings operates in the United States.

Potential upside of 4.4% exists for Global Brass & C, based on a current level of $43.11 and analysts' average consensus price target of $45.00. The stock should find initial support at its 50-day moving average (MA) of $38.68 and further support at its 200-day MA of $33.94.

SmarTrend is tracking the current trend status for Global Brass & C and will alert subscribers who have BRSS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle global brass & c

Ticker(s): BRSS