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

By Amy Schwartz

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. Today's price range of $2.33 and $2.35 is within yesterday'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.

Over the past year, Rr Donnelley & S has traded in a range of $2.04 to $7.28 and is now at $2.33, 14% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 5.7% while the 200-day MA has slid 1.2%.

Rr Donnelley & S has overhead space with shares priced $2.33, or 80.6% below the average consensus analyst price target of $12.00. Rr Donnelley & S shares should first meet resistance at the 50-day moving average (MA) of $3.25 and find additional resistance at the 200-day MA of $4.71.

SmarTrend recommended that its subscribers protect gains by selling shares of Rr Donnelley & S on March 5th, 2019 by issuing a Downtrend alert when the shares were trading at $4.98. Since that call, shares of Rr Donnelley & S have fallen 52.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle rr donnelley & s

Ticker(s): RRD