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Possible Bullish Inside Day Candle Pattern Detected for Intl Flvr & Frag (NYSE:IFF)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Intl Flvr & Frag (NYSE:IFF) based on the price action in the company's shares. Yesterday's price range of $134.80 and $135.55 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 Intl Flvr & Frag may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Intl Flvr & Frag has traded in a range of $121.85 to $150.57 and closed yesterday at $134.80, 11% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

Potential upside of 6.6% exists for Intl Flvr & Frag, based on a current level of $134.80 and analysts' average consensus price target of $143.65. Intl Flvr & Frag shares should encounter resistance at the 200-day moving average (MA) of $134.98 and support at the 50-day MA of $132.31.

International Flavors & Fragrances Inc., together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom.

SmarTrend is tracking the current trend status for Intl Flvr & Frag and will alert subscribers who have IFF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle intl flvr & frag

Ticker(s): IFF