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

By David Diaz

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 $65.23 and $67.48 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.

In the past 52 weeks, Chart Industries share prices have been bracketed by a low of $32.04 and a high of $80.31 and closed yesterday at $65.90, 106% above that low price. The 200-day and 50-day moving averages have moved 0.48% higher and 0.96% lower over the past week, respectively.

There is potential upside of 5.0% for shares of Chart Industries based on a current price of $65.90 and an average consensus analyst price target of $69.17. Chart Industries shares should encounter resistance at the 50-day moving average (MA) of $73.68 and support at its 200-day MA of $64.66.

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.

SmarTrend recommended that its subscribers protect gains by selling shares of Chart Industries on October 9th, 2018 by issuing a Downtrend alert when the shares were trading at $71.71. Since that call, shares of Chart Industries have fallen 9.1%. 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 chart industries

Ticker(s): GTLS