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Possible Bullish Inside Day Candle Pattern Detected for International Flavors & Fragrances (NYSE:IFF)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in International Flavors & Fragrances (NYSE:IFF) based on the price action in the company's shares. Yesterday's price range of $135.86 and $137.23 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 International Flavors & Fragrances may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

International Flavors & Fragrances Inc. creates and manufactures flavor and fragrance products. The Company's fragrance products are sold to manufacturers of perfumes, cosmetics, soaps and detergents, and its flavor products to manufacturers of prepared foods, beverages, dairy foods, pharmaceuticals, and confectionery products.

International Flavors & Fragrances (NYSE:IFF) defies analysts with a current price ($137.20) 3.4% above its average consensus price target of $132.49. International Flavors & Fragrances shares have support at the 50-day moving average (MA) of $114.45 and additional support at the 200-day MA of $113.58.

Over the past year, International Flavors & Fragrances has traded in a range of $97.24 to $143.64 and closed yesterday at $137.20, 41% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

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

Keywords: bullish am inside day candle international flavors & fragrances

Ticker(s): IFF