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Possible Bearish Inside Day Candle Pattern Detected for Rr Donnelley & S (NYSE:RRD)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Rr Donnelley & S (NYSE:RRD) based on the price action in the company's shares. Yesterday's price range of $2.90 and $3.04 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 Rr Donnelley & S may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

R. R. Donnelley & Sons Company provides commercial printing and information services. The Company provides solutions that include commercial printing, direct mail, financial printing, print fulfillment, labels, forms, logistics, call centers, transactional print-and-mail, print management, online services, digital photography, color services, and content and database management.

In the past 52 weeks, shares of Rr Donnelley & S have traded between a low of $1.68 and a high of $6.34 and closed yesterday at $3.00, which is 79% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 2.1%.

Rr Donnelley & S (NYSE:RRD) has potential upside of 299.3% based on a current price of $3.00 and analysts' consensus price target of $12.00. The stock should find initial resistance at its 200-day moving average (MA) of $3.07 and further resistance at its 50-day MA of $3.50.

SmarTrend is tracking the current trend status for Rr Donnelley & S and will alert subscribers who have RRD in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle rr donnelley & s

Ticker(s): RRD