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

By James Quinn

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 $125.08 and $126.87 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.

Intl Flvr & Frag share prices have moved between a 52-week high of $152.95 and a 52-week low of $104.86 and closed yesterday at 18% above that low price at $123.44 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

Potential upside of 16.4% exists for Intl Flvr & Frag, based on a current level of $123.44 and analysts' average consensus price target of $143.65. The stock should find initial resistance at its 50-day moving average (MA) of $130.85 and further resistance at its 200-day MA of $131.12.

International Flavors & Fragrances Inc. creates, manufactures, and supplies flavors and fragrances for the food, beverage, personal care, and household products industries. The Company's flavors and fragrances are individual ingredients and compounds of a large number of ingredients that are blended, mixed, and reacted together to produce proprietary formulas.

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