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Possible Bullish Inside Day Candle Pattern Detected for EI Du Pont de Nemours (NYSE:DD)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in EI Du Pont de Nemours (NYSE:DD) based on the price action in the company's shares. Yesterday's price range of $62.97 and $64.14 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 EI Du Pont de Nemours may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

EI Du Pont de Nemours share prices have moved between a 52-week high of $75.72 and a 52-week low of $47.11 and closed yesterday at 36% above that low price at $63.94 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%.

E. I. du Pont de Nemours and Company is a global chemical and life sciences company, with businesses that include agriculture and industrial biotechnology, chemistry, biology, materials science and manufacturing. The Company operates globally and offers a wide range of products and services for markets including agriculture and food, building and construction, electronics and communications.

There is potential upside of 0.7% for shares of EI Du Pont de Nemours based on a current price of $63.94 and an average consensus analyst price target of $64.39. The stock should hit resistance at its 50-day moving average (MA) of $64.05, as well as support at its 200-day MA of $59.61.

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

Keywords: bullish am inside day candle ei du pont de nemours

Ticker(s): DD