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Possible Bullish Inside Day Candle Pattern Detected for Aptargroup Inc (NYSE:ATR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Aptargroup Inc (NYSE:ATR) based on the price action in the company's shares. Yesterday's price range of $119.06 and $119.77 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. Traders and investors interested in shares of Aptargroup Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Aptargroup Inc has traded in a range of $88.26 to $126.20 and closed yesterday at $119.33, 35% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.3%.

Based on a current price of $119.33, Aptargroup Inc is currently 22.9% above its average consensus analyst price target of $92.00. Aptargroup Inc shares should encounter resistance at the 50-day moving average (MA) of $121.74 and support at its 200-day MA of $108.54.

AptarGroup, Inc. designs, manufactures, and markets pumps, dispensing closures, and aerosol valves. The Company's products are used for fragrance and cosmetics, personal care, pharmaceutical, household and industrial, and food products. AptarGroup operates worldwide.

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

Keywords: bullish am inside day candle aptargroup inc

Ticker(s): ATR