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

By Nick Russo

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. Yesterday's price range of $41.25 and $42.29 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 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.

In the past 52 weeks, Sealed Air Corp share prices have been bracketed by a low of $30.22 and a high of $47.13 and closed yesterday at $41.76, 38% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.4%.

Sealed Air Corp (NYSE:SEE) has potential upside of 19.4% based on a current price of $41.76 and analysts' 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.

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

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 am inside day candle sealed air corp

Ticker(s): SEE