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Possible Bearish Inside Day Candle Pattern Detected for Hb Fuller Co (NYSE:FUL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hb Fuller Co (NYSE:FUL) based on the price action in the company's shares. Yesterday's price range of $49.81 and $49.81 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 Hb Fuller Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

H.B. Fuller Company manufactures and markets adhesives, sealants, coatings, paints, and other specialty chemical products worldwide. The Company's products are sold in countries that include North America, Europe, Latin America, the Asia Pacific region, India, the Middle East, and Africa.

In the past 52 weeks, Hb Fuller Co share prices have been bracketed by a low of $39.61 and a high of $59.58 and closed yesterday at $49.74, 26% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

Hb Fuller Co has overhead space with shares priced $49.74, or 15.4% below the average consensus analyst price target of $58.80. Hb Fuller Co shares should encounter resistance at the 200-day moving average (MA) of $50.41 and support at the 50-day MA of $48.16.

SmarTrend recommended that subscribers consider buying shares of Hb Fuller Co on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.67. Since that recommendation, shares of Hb Fuller Co have risen 15.1%. We continue to monitor FUL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle hb fuller co

Ticker(s): FUL