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

By James Quinn

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 $22.50 and $23.11 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.

Chart Industries (NASDAQ:GTLS) is currently priced 0.9% above its average consensus analyst price target of $22.47. Chart Industries shares have support at the 50-day moving average (MA) of $22.15 and additional support at the 200-day MA of $20.89.

In the past 52 weeks, shares of Chart Industries have traded between a low of $13.27 and a high of $45.62 and closed yesterday at $22.68, which is 71% above that low price. The 200-day and 50-day moving averages have moved 0.73% lower and 2.96% higher over the past week, respectively.

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

Keywords: bullish am inside day candle chart industries

Ticker(s): GTLS