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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 $41.73 and $42.29 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 share prices have moved between a 52-week high of $47.13 and a 52-week low of $30.22 and are now trading 38% above that low price at $41.73 per share. The 200-day and 50-day moving averages have moved 0.17% higher and 0.42% lower over the past week, respectively.

Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care.

Potential upside of 19.5% exists for Sealed Air Corp, based on a current level of $41.73 and analysts' average consensus price target of $49.86. Sealed Air Corp shares should encounter resistance at the 50-day moving average (MA) of $42.66 and support at its 200-day MA of $41.67.

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