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Possible Bearish Inside Day Candle Pattern Detected for Graphic Packagin (NYSE:GPK)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Graphic Packagin (NYSE:GPK) based on the price action in the company's shares. Yesterday's price range of $13.09 and $13.15 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 Graphic Packagin may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 40.7% for shares of Graphic Packagin based on a current price of $13.13 and an average consensus analyst price target of $18.48. Graphic Packagin shares have support at the 200-day moving average (MA) of $12.78 and additional support at the 50-day MA of $12.53.

Over the past year, Graphic Packagin has traded in a range of $10.04 to $16.61 and closed yesterday at $13.13, 31% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.5%.

Graphic Packaging Holding Company is an integrated provider of paperboard and integrated paperboard packaging solutions to multinational beverage and consumer products companies. The Company manufactures folding cartons for frozen and non-frozen food and beverage products.

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

Keywords: bearish am inside day candle graphic packagin

Ticker(s): GPK