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Possible Bearish Inside Day Candle Pattern Detected for Msa Safety Inc (NYSE:MSA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Msa Safety Inc (NYSE:MSA) based on the price action in the company's shares. Yesterday's price range of $102.81 and $102.81 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 Msa Safety Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Msa Safety Inc (NYSE:MSA) defies analysts with a current price ($102.88) 9.0% above its average consensus price target of $93.67. Msa Safety Inc shares have support at the 50-day moving average (MA) of $100.87 and additional support at the 200-day MA of $100.62.

MSA Safety Incorporated develops, manufactures, and supplies safety products that protect people and facility infrastructures. The Company's core products include self-contained breathing apparatus, fixed gas and flame detection systems, portable gas detection instruments, head protection, and fall protection products. MSA Safety markets its products worldwide.

In the past 52 weeks, Msa Safety Inc share prices have been bracketed by a low of $80.08 and a high of $110.83 and closed yesterday at $102.88, 28% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Msa Safety Inc on January 17th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $98.85. Since that recommendation, shares of Msa Safety Inc have risen 4.1%. We continue to monitor MSA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle msa safety inc

Ticker(s): MSA