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Possible Bearish Inside Day Candle Pattern Detected for Kbr Inc (NYSE:KBR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kbr Inc (NYSE:KBR) based on the price action in the company's shares. Yesterday's price range of $29.54 and $29.97 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 Kbr Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

KBR, Inc. is a global engineering, construction, and services company supporting the energy, petrochemicals, government services, and civil infrastructure sectors. The Company offers a wide range of services through two business segments, Energy and Chemicals (E&C) and Government and Infrastructure (G&I).

Kbr Inc (NYSE:KBR) defies analysts with a current price ($29.91) 36.0% above its average consensus price target of $19.14. The stock should find initial support at its 50-day moving average (MA) of $27.81 and further support at its 200-day MA of $24.32.

Over the past year, Kbr Inc has traded in a range of $13.90 to $30.55 and closed yesterday at $29.91, 115% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 1.7%.

SmarTrend recommended that subscribers consider buying shares of Kbr Inc on September 6th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.24. Since that recommendation, shares of Kbr Inc have risen 14.0%. We continue to monitor KBR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle KBR Inc

Ticker(s): KBR