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Possible Bearish Inside Day Candle Pattern Detected for Topbuild Cor (NYSE:BLD)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Topbuild Cor (NYSE:BLD) based on the price action in the company's shares. Yesterday's price range of $80.93 and $82.34 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 Topbuild Cor may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

TopBuild Corp. provides insulation installation services. The Company offers residential insulation products and related accessories. TopBuild serves customers in the United States.

In the past 52 weeks, Topbuild Cor share prices have been bracketed by a low of $51.64 and a high of $87.21 and closed yesterday at $81.96, 59% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.4%.

Topbuild Cor has overhead space with shares priced $81.96, or 9.5% below the average consensus analyst price target of $90.57. Topbuild Cor shares should encounter resistance at the 50-day moving average (MA) of $81.97 and support at its 200-day MA of $74.49.

SmarTrend is tracking the current trend status for Topbuild Cor and will alert subscribers who have BLD in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle topbuild cor

Ticker(s): BLD