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Possible Bullish Inside Day Candle Pattern Detected for EnPro Industries (NYSE:NPO)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in EnPro Industries (NYSE:NPO) based on the price action in the company's shares. Yesterday's price range of $42.88 and $43.79 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 EnPro 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.

There is potential upside of 60.1% for shares of EnPro Industries based on a current price of $43.36 and an average consensus analyst price target of $69.40. The stock should run into initial resistance at its 200-day moving average (MA) of $48.65 and subsequent resistance at its 50-day MA of $57.09.

EnPro Industries share prices have moved between a 52-week high of $64.50 and a 52-week low of $37.53 and closed yesterday at 16% above that low price at $43.36 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

EnPro Industries, Inc. designs, develops, manufactures, and markets proprietary engineered industrial products. The Company's products include sealing products, metal polymer bearing products, air compressor systems and vacuum pumps, diesel and natural gas engines, and specialized tooling. EnPro sells its products to customers located around the world.

SmarTrend recommended that its subscribers protect gains by selling shares of EnPro Industries on May 5th, 2016 by issuing a Downtrend alert when the shares were trading at $47.06. Since that call, shares of EnPro Industries have fallen 9.0%. 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 enpro industries

Ticker(s): NPO