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Possible Bearish Inside Day Candle Pattern Detected for SodaStream International (NASDAQ:SODA)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in SodaStream International (NASDAQ:SODA) based on the price action in the company's shares. Today's price range of $27.26 and $28.20 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 SodaStream International may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

SodaStream International (NASDAQ:SODA) defies analysts with a current price ($27.37) 27.7% above its average consensus price target of $19.80. SodaStream International shares have support at the 200-day moving average (MA) of $14.87 and additional support at the 50-day MA of $14.30.

Over the past year, SodaStream International has traded in a range of $11.40 to $29.05 and is now at $27.37, 140% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has remained constant.

SodaStream International Ltd. manufactures home beverage carbonation systems, which enable consumers to transform tap water into carbonated soft drinks and sparkling water. The Company develops, manufactures and sells soda makers and exchangeable carbon-dioxide (CO2) cylinders, as well as consumables, consisting of CO2 refills, reusable carbonation bottles, and flavors.

SmarTrend recommended that subscribers consider buying shares of SodaStream International on May 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.29. Since that recommendation, shares of SodaStream International have risen 63.4%. We continue to monitor SODA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle sodastream international

Ticker(s): SODA