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Possible Bearish Inside Day Candle Pattern Detected for Masonite Interna (NYSE:DOOR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Masonite Interna (NYSE:DOOR) based on the price action in the company's shares. Yesterday's price range of $68.20 and $68.99 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 Masonite Interna 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, Masonite Interna share prices have been bracketed by a low of $43.76 and a high of $69.60 and closed yesterday at $68.27, 56% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 2.0%.

Masonite Interna (NYSE:DOOR) has potential upside of 14.6% based on a current price of $68.27 and analysts' consensus price target of $78.22. The stock should find initial support at its 50-day moving average (MA) of $58.47 and further support at its 200-day MA of $53.90.

Masonite International Corp. operates as a holding company. The Company, through its subsidiary, manufactures residential and commercial doors. Masonite offers interior, entry, and patio doors through a network of local dealers and home improvement retailers worldwide.

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

Keywords: bearish am inside day candle masonite interna

Ticker(s): DOOR