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Possible Bullish Inside Day Candle Pattern Detected for Azz Inc (NYSE:AZZ)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Azz Inc (NYSE:AZZ) based on the price action in the company's shares. Yesterday's price range of $39.85 and $41.30 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 Azz 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.

In the past 52 weeks, Azz Inc share prices have been bracketed by a low of $39.50 and a high of $67.98 and closed yesterday at $41.25, 4% above that low price. The 200-day and 50-day moving averages have moved 0.15% higher and 0.82% higher over the past week, respectively.

Potential upside of 18.8% exists for Azz Inc, based on a current level of $41.25 and analysts' average consensus price target of $49.00. The stock should find initial resistance at its 200-day moving average (MA) of $53.52 and further resistance at its 50-day MA of $55.51.

AZZ Incorporated manufactures specialty electrical equipment and components for the global power generation, power transmission, and distribution markets. The Company also provides hot dip galvanizing services to the steel fabrication industry across the United States.

SmarTrend is monitoring the recent change of momentum in Azz Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Azz Inc in search of a potential trend change.

Keywords: bullish am inside day candle azz inc

Ticker(s): AZZ