• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Northrop Grumman (NYSE:NOC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Northrop Grumman (NYSE:NOC) based on the price action in the company's shares. Yesterday's price range of $375.80 and $376.18 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 Northrop Grumman may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Northrop Grumman has traded in a range of $254.56 to $383.89 and closed yesterday at $374.67, 47% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.5%.

Northrop Grumman (NYSE:NOC) defies analysts with a current price ($374.67) 0.7% above its average consensus price target of $372.16. The stock should find initial support at its 50-day moving average (MA) of $352.00 and further support at its 200-day MA of $336.54.

Northrop Grumman Corporation is a global security company. The Company provides systems, products, and solutions in aerospace, electronics, information systems, and technical services. Northrop Grumman serves government and commercial customers worldwide.

SmarTrend is monitoring the recent change of momentum in Northrop Grumman. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Northrop Grumman in search of a potential trend change.

Keywords: bearish am inside day candle Northrop Grumman

Ticker(s): NOC