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Possible Bullish Inside Day Candle Pattern Detected for Newell Rubbermaid (NYSE:NWL)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Newell Rubbermaid (NYSE:NWL) based on the price action in the company's shares. Today's price range of $52.18 and $52.43 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 Newell Rubbermaid may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Newell Rubbermaid have traded between a low of $33.26 and a high of $55.45 and are now at $52.28, which is 57% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 1.71% higher over the past week, respectively.

Based on a current price of $52.28, Newell Rubbermaid is currently 8.2% above its average consensus analyst price target of $48.00. The stock should discover initial support at its 50-day moving average (MA) of $43.14 and subsequent support at its 200-day MA of $42.11.

Newell Rubbermaid Inc. manufactures and markets branded consumer products which are sold through a variety of retail and wholesale distribution channels. The Company's products include housewares, juvenile products, home furnishings, office products, tools and hardware, and hair accessories.

SmarTrend is tracking the current trend status for Newell Rubbermaid and will alert subscribers who have NWL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle newell rubbermaid

Ticker(s): NWL