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

By Shiri Gupta

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 $21.47 and $23.18 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.

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.

In the past 52 weeks, shares of Kronos Worldwide have traded between a low of $4.70 and a high of $29.49 and closed yesterday at $22.63, which is 381% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 1.4%.

Kronos Worldwide has overhead space with shares priced $22.63, or 5.7% below the average consensus analyst price target of $24.00. The stock should discover initial support at its 200-day moving average (MA) of $6.45 and subsequent support at its 50-day MA of $6.12.

SmarTrend recommended that its subscribers protect gains by selling shares of Kronos Worldwide on February 5th, 2018 by issuing a Downtrend alert when the shares were trading at $24.10. Since that call, shares of Kronos Worldwide have fallen 11.0%. 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