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Possible Bullish Inside Day Candle Pattern Detected for Kronos Worldwide (NYSE:KRO)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Kronos Worldwide (NYSE:KRO) based on the price action in the company's shares. Yesterday's price range of $5.14 and $5.37 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 Kronos Worldwide 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 40.2% for shares of Kronos Worldwide based on a current price of $5.23 and an average consensus analyst price target of $7.33. The stock should find initial resistance at its 50-day moving average (MA) of $6.12 and further resistance at its 200-day MA of $6.45.

In the past 52 weeks, Kronos Worldwide share prices have been bracketed by a low of $3.94 and a high of $13.39 and closed yesterday at $5.23, 33% above that low price. The 200-day and 50-day moving averages have moved 1.19% lower and 1.37% higher over the past week, respectively.

Kronos Worldwide, Inc. produces titanium dioxide pigments. The Company's products are used to whiten, brighten, and add opacity to thousands of commonly used products, such as paints, plastics, inks, and cosmetics.

SmarTrend recommended that its subscribers protect gains by selling shares of Kronos Worldwide on May 13th, 2016 by issuing a Downtrend alert when the shares were trading at $5.81. Since that call, shares of Kronos Worldwide 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 kronos worldwide

Ticker(s): KRO