• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Ppg Inds Inc (NYSE:PPG)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ppg Inds Inc (NYSE:PPG) based on the price action in the company's shares. Yesterday's price range of $110.90 and $110.90 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 Ppg Inds Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Ppg Inds Inc share prices have moved between a 52-week high of $116.73 and a 52-week low of $94.37 and closed yesterday at 18% above that low price at $110.90 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

Ppg Inds Inc has overhead space with shares priced $110.90, or 8.6% below the average consensus analyst price target of $121.35. The stock should find initial support at its 50-day moving average (MA) of $107.13 and further support at its 200-day MA of $106.18.

PPG Industries, Inc. supplies products for the manufacturing, construction, automotive, chemical processing, and other industries worldwide. The Company makes protective and decorative coatings, flat glass, fabricated glass products, continuous-strand fiber glass products, and industrial and specialty chemicals.

SmarTrend recommended that subscribers consider buying shares of Ppg Inds Inc on January 17th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $105.40. Since that recommendation, shares of Ppg Inds Inc have risen 5.3%. We continue to monitor PPG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle ppg inds inc

Ticker(s): PPG