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Possible Bearish Inside Day Candle Pattern Detected for Tupperware Brand (NYSE:TUP)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Tupperware Brand (NYSE:TUP) based on the price action in the company's shares. Yesterday's price range of $19.69 and $20.16 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 Tupperware Brand 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, shares of Tupperware Brand have traded between a low of $18.19 and a high of $44.60 and closed yesterday at $20.04, which is 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1.3%.

Tupperware Brands Corporation is a portfolio of global direct selling companies which sell products across multiple brands and categories through an independent sales force. The Company's product brands and categories include food preparation, storage, and serving solutions for the kitchen and home. Tupperware Brands also sells beauty and personal care products.

There is potential upside of 142.0% for shares of Tupperware Brand based on a current price of $20.04 and an average consensus analyst price target of $48.50. The stock should run into initial resistance at its 50-day moving average (MA) of $23.62 and subsequent resistance at its 200-day MA of $30.64.

SmarTrend recommended that its subscribers protect gains by selling shares of Tupperware Brand on January 30th, 2019 by issuing a Downtrend alert when the shares were trading at $28.99. Since that call, shares of Tupperware Brand have fallen 30.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle tupperware brand

Ticker(s): TUP