Possible Bullish Inside Day Candle Pattern Detected for NCI Building Systems (NYSE:NCS)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in NCI Building Systems (NYSE:NCS) based on the price action in the company's shares. Yesterday's price range of $14.55 and $15.26 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 NCI Building Systems may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
NCI Building Systems, Inc. designs, manufactures, and markets metal engineered building systems and products for the building industry. The Company sells metal components as well as complete metal building systems. NCI sells its products in the United States.
In the past 52 weeks, NCI Building Systems share prices have been bracketed by a low of $9.07 and a high of $16.16 and closed yesterday at $15.20, 68% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.6% while the 200-day MA has remained constant.
There is potential upside of 6.0% for shares of NCI Building Systems based on a current price of $15.20 and an average consensus analyst price target of $16.11. The stock should find initial support at its 50-day moving average (MA) of $13.69 and further support at its 200-day MA of $11.83.
SmarTrend recommended that subscribers consider buying shares of NCI Building Systems on February 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.72. Since that recommendation, shares of NCI Building Systems have risen 41.9%. We continue to monitor NCS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: bullish am inside day candle nci building systems