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Possible Bullish Inside Day Candle Pattern Detected for LSB Industries (NYSE:LXU)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in LSB Industries (NYSE:LXU) based on the price action in the company's shares. Today's price range of $8.49 and $9.81 is within yesterday'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 LSB Industries 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 93.8% for shares of LSB Industries based on a current price of $9.70 and an average consensus analyst price target of $18.80. The stock should run into initial resistance at its 50-day moving average (MA) of $11.93 and subsequent resistance at its 200-day MA of $13.84.

In the past 52 weeks, shares of LSB Industries have traded between a low of $3.68 and a high of $44.85 and are now at $9.70, which is 164% above that low price. Over the past week, the 200-day moving average (MA) has gone down 3.7% while the 50-day MA has advanced 4.1%.

LSB Industries, Inc., through its subsidiaries, manufactures and sells chemical products for the mining, agricultural, and industrial markets. The Company also manufactures and sells commercial and residential climate control products, as well as provides specialized engineering services and other activities.

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

Keywords: bullish inside day candle lsb industries

Ticker(s): LXU