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Possible Bullish Inside Day Candle Pattern Detected for Crane Co (NYSE:CR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Crane Co (NYSE:CR) based on the price action in the company's shares. Yesterday's price range of $80.53 and $81.67 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 Crane Co may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Crane Co. manufactures engineered industrial products. The Company offers vending machines, airplane braking devices, pumps, valves, and other industrial goods. Crane serves the aerospace manufacturing, power generation, hydrocarbon processing, commercial and residential building, plumbing, and food and beverage production industries in the United States.

In the past 52 weeks, Crane Co share prices have been bracketed by a low of $71.23 and a high of $102.65 and closed yesterday at $80.94, 14% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has risen 0.2%.

There is potential upside of 35.7% for shares of Crane Co based on a current price of $80.94 and an average consensus analyst price target of $109.83. Crane Co shares should first meet resistance at the 50-day moving average (MA) of $86.36 and find additional resistance at the 200-day MA of $87.21.

SmarTrend recommended that its subscribers protect gains by selling shares of Crane Co on April 25th, 2018 by issuing a Downtrend alert when the shares were trading at $88.16. Since that call, shares of Crane Co have fallen 8.2%. 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 crane co

Ticker(s): CR