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Possible Bullish Inside Day Candle Pattern Detected for Cf Industries Ho (NYSE:CF)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cf Industries Ho (NYSE:CF) based on the price action in the company's shares. Yesterday's price range of $39.25 and $39.64 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 Cf Industries Ho may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

CF Industries Holdings, Inc. manufactures and distributes nitrogen and phosphate fertilizer products globally. The Company's principal products in the nitrogen segment are ammonia, urea, urea ammonium nitrate solution, ammonium nitrate, diesel exhaust fluid, and aqua ammonia. The principal products in the phosphate segment are diammonium phosphate and monoammonium phosphate.

In the past 52 weeks, shares of Cf Industries Ho have traded between a low of $35.70 and a high of $56.51 and closed yesterday at $39.59, which is 11% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 0.74% lower over the past week, respectively.

Cf Industries Ho has overhead space with shares priced $39.59, or 4.5% below the average consensus analyst price target of $41.44. Cf Industries Ho shares should first meet resistance at the 50-day moving average (MA) of $42.40 and find additional resistance at the 200-day MA of $45.86.

SmarTrend recommended that its subscribers protect gains by selling shares of Cf Industries Ho on March 7th, 2019 by issuing a Downtrend alert when the shares were trading at $40.65. Since that call, shares of Cf Industries Ho have fallen 4.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle cf industries ho

Ticker(s): CF