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Possible Bullish Inside Day Candle Pattern Detected for Hb Fuller Co (NYSE:FUL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hb Fuller Co (NYSE:FUL) based on the price action in the company's shares. Yesterday's price range of $41.43 and $42.05 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 Hb Fuller 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.

Hb Fuller Co has overhead space with shares priced $41.80, or 28.9% below the average consensus analyst price target of $58.80. The stock should run into initial resistance at its 50-day moving average (MA) of $47.97 and subsequent resistance at its 200-day MA of $48.72.

H.B. Fuller Company manufactures and markets adhesives, sealants, coatings, paints, and other specialty chemical products worldwide. The Company's products are sold in countries that include North America, Europe, Latin America, the Asia Pacific region, India, the Middle East, and Africa.

In the past 52 weeks, Hb Fuller Co share prices have been bracketed by a low of $39.61 and a high of $59.58 and closed yesterday at $41.80, 6% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.5% while the 200-day MA has slid 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Hb Fuller Co on March 25th, 2019 by issuing a Downtrend alert when the shares were trading at $47.85. Since that call, shares of Hb Fuller Co have fallen 12.6%. 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 hb fuller co

Ticker(s): FUL