• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Intl Flvr & Frag (NYSE:IFF)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Intl Flvr & Frag (NYSE:IFF) based on the price action in the company's shares. Yesterday's price range of $125.06 and $125.94 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 Intl Flvr & Frag may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Intl Flvr & Frag (NYSE:IFF) has potential upside of 14.4% based on a current price of $125.55 and analysts' consensus price target of $143.65. Intl Flvr & Frag shares should first meet resistance at the 50-day moving average (MA) of $131.31 and find additional resistance at the 200-day MA of $142.71.

Over the past year, Intl Flvr & Frag has traded in a range of $122.11 to $157.40 and closed yesterday at $125.55, 3% above that low. The 200-day and 50-day moving averages have moved 0.11% lower and 0.52% lower over the past week, respectively.

International Flavors & Fragrances Inc. creates, manufactures, and supplies flavors and fragrances for the food, beverage, personal care, and household products industries. The Company's flavors and fragrances are individual ingredients and compounds of a large number of ingredients that are blended, mixed, and reacted together to produce proprietary formulas.

SmarTrend recommended that its subscribers protect gains by selling shares of Intl Flvr & Frag on May 7th, 2018 by issuing a Downtrend alert when the shares were trading at $131.54. Since that call, shares of Intl Flvr & Frag have fallen 4.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle intl flvr & frag

Ticker(s): IFF