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Possible Bearish Inside Day Candle Pattern Detected for Sealed Air Corp (NYSE:SEE)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Sealed Air Corp (NYSE:SEE) based on the price action in the company's shares. Today's price range of $44.64 and $44.88 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 Sealed Air Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Sealed Air Corp has overhead space with shares priced $44.72, or 5.9% below the average consensus analyst price target of $47.50. The stock should find initial resistance at its 200-day moving average (MA) of $47.23 and further resistance at its 50-day MA of $48.19.

Sealed Air Corporation manufactures packaging and performance-based materials and equipment systems that serve food, industrial, medical, and consumer applications.

Over the past year, Sealed Air Corp has traded in a range of $41.74 to $50.62 and is now at $44.72, 7% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.5%.

SmarTrend is tracking the current trend status for Sealed Air Corp and will alert subscribers who have SEE in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle sealed air corp

Ticker(s): SEE