• Return to Headlines

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 $43.49 and $43.49 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.

In the past 52 weeks, shares of Usg Corp have traded between a low of $39.73 and a high of $43.50 and are now at $43.49, which is 9% above that low price. The 200-day and 50-day moving averages have moved 0.01% higher and 0.03% higher over the past week, respectively.

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 $43.49, Usg Corp is currently 3.8% above its average consensus analyst price target of $41.86. Usg Corp shares have support at the 50-day moving average (MA) of $43.21 and additional support at the 200-day MA of $43.05.

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