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Possible Bearish Inside Day Candle Pattern Detected for Usg Corp (NYSE:USG)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Usg Corp (NYSE:USG) based on the price action in the company's shares. Today's price range of $43.40 and $43.40 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 Usg Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

USG Corporation manufactures and distributes building materials. The Company produces a wide range of products for use in new residential, non-residential, and repair and remodel construction, as well as products used in certain industrial processes. USG two core businesses include North American gypsum and worldwide ceilings.

Based on a current price of $43.40, Usg Corp is currently 3.6% above its average consensus analyst price target of $41.86. The stock should discover initial support at its 50-day moving average (MA) of $43.19 and subsequent support at its 200-day MA of $43.05.

In the past 52 weeks, shares of Usg Corp have traded between a low of $39.32 and a high of $43.50 and are now at $43.40, which is 10% above that low price. The 200-day and 50-day moving averages have moved 0.01% higher and 0.05% higher over the past week, respectively.

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

Keywords: bearish inside day candle usg corp

Ticker(s): USG