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Possible Bearish Inside Day Candle Pattern Detected for Quad Graphics In (NYSE:QUAD)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Quad Graphics In (NYSE:QUAD) based on the price action in the company's shares. Yesterday's price range of $10.85 and $11.16 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 Quad Graphics In may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Quad Graphics In (NYSE:QUAD) has potential upside of 227.3% based on a current price of $11.00 and analysts' consensus price target of $36.00. The stock should find resistance at its 200-day moving average (MA) of $11.53, as well as support at its 50-day MA of $8.91.

Quad/Graphics, Inc. provides marketing solutions worldwide. The company operates through United States Print and Related Services, and International segments. It offers printing services, such as retail inserts, publications, catalogs, special interest publications, journals, direct mail, books, directories, in-store marketing and promotion, packaging, newspapers, custom print products, and other commercial and specialty printed products; and paper procurement services.

Quad Graphics In share prices have moved between a 52-week high of $22.36 and a 52-week low of $7.22 and closed yesterday at 52% above that low price at $11.00 per share. The 200-day and 50-day moving averages have moved 1.33% lower and 1.07% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Quad Graphics In on July 31st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.37. Since that recommendation, shares of Quad Graphics In have risen 7.9%. We continue to monitor QUAD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle quad graphics in

Ticker(s): QUAD