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

By David Diaz

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. Today's price range of $67.74 and $68.22 is within yesterday'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.

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.

Over the past year, EI Du Pont de Nemours has traded in a range of $47.11 to $75.72 and is now at $68.22, 45% above that low. 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%.

EI Du Pont de Nemours (NYSE:DD) is currently priced 5.6% above its average consensus analyst price target of $64.39. The stock should discover initial support at its 50-day moving average (MA) of $64.05 and subsequent support at its 200-day MA of $59.61.

SmarTrend is tracking the current trend status for EI Du Pont de Nemours and will alert subscribers who have DD in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle ei du pont de nemours

Ticker(s): DD