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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in CF Industries (NYSE:CF) based on the price action in the company's shares. Today's price range of $27.38 and $27.77 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. Traders and investors interested in shares of CF Industries 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, CF Industries has traded in a range of $26.10 to $70.32 and is now at $27.48, 5% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 0.2%.

CF Industries (NYSE:CF) has potential upside of 106.0% based on a current price of $27.48 and analysts' consensus price target of $56.60. CF Industries shares should first meet resistance at the 50-day moving average (MA) of $33.12 and find additional resistance at the 200-day MA of $43.22.

CF Industries Holdings, Inc. manufactures and distributes nitrogen and phosphate fertilizer products in North America. The Company's principal products in the nitrogen segment are ammonia, urea and urea ammonium nitrate solution and its principal products in the phosphate segment are diammonium phosphate, monoammonium phosphate, and granular muriate of potash.

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

Keywords: bullish inside day candle CF Industries

Ticker(s): CF