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Possible Bullish Inside Day Candle Pattern Detected for Energizer (NYSE:ENR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Energizer (NYSE:ENR) based on the price action in the company's shares. Yesterday's price range of $49.19 and $50.23 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 Energizer may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Energizer has overhead space with shares priced $49.92, or 11.6% below the average consensus analyst price target of $56.44. Energizer shares have support at the 50-day moving average (MA) of $41.88 and additional support at the 200-day MA of $39.00.

Energizer share prices have moved between a 52-week high of $60.07 and a 52-week low of $28.86 and closed yesterday at 73% above that low price at $49.92 per share. The 200-day and 50-day moving averages have moved 0.15% higher and 1.28% higher over the past week, respectively.

Energizer Holdings, Inc. manufactures dry cell batteries and flashlights. The Company offers a full line of products, including alkaline, carbon zinc, miniature, and rechargeable batteries, as well as lighting products. Energizer also manufactures and markets a range of razor and shave related products on a global basis.

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

Keywords: bullish am inside day candle Energizer

Ticker(s): ENR