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Possible Bullish Inside Day Candle Pattern Detected for Chart Industries (NASDAQ:GTLS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Chart Industries (NASDAQ:GTLS) based on the price action in the company's shares. Yesterday's price range of $87.20 and $88.46 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 Chart 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.

Chart Industries, Inc. is a global manufacturer of equipment used in the production, storage, and end-use of hydrocarbon and industrial gases. The Company's products include vacuum-insulated containment vessels, heat exchangers, cold boxes, and other cryogenic components.

In the past 52 weeks, shares of Chart Industries have traded between a low of $56.14 and a high of $95.66 and closed yesterday at $86.93, which is 55% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.5%.

Chart Industries (NASDAQ:GTLS) is currently priced 20.4% above its average consensus analyst price target of $69.17. The stock should find resistance at its 50-day moving average (MA) of $87.13, as well as support at its 200-day MA of $74.33.

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

Keywords: bullish am inside day candle chart industries

Ticker(s): GTLS