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Possible Bullish Inside Day Candle Pattern Detected for Potlatch Corp (NASDAQ:PCH)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Potlatch Corp (NASDAQ:PCH) based on the price action in the company's shares. Yesterday's price range of $40.66 and $42.40 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 Potlatch Corp 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, Potlatch Corp share prices have been bracketed by a low of $33.31 and a high of $44.77 and closed yesterday at $42.17, 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has remained constant.

There is potential upside of 24.0% for shares of Potlatch Corp based on a current price of $42.17 and an average consensus analyst price target of $52.29. The stock should hit resistance at its 50-day moving average (MA) of $43.16, as well as support at its 200-day MA of $39.99.

PotlatchDeltic Corporation operates as a holding company. The Company, through its subsidiaries, manages manufacturing facilities that produce lumber and panel products. PotlatchDeltic also conducts a real estate sales and development business. PotlatchDeltic serves customers in the United States.

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

Keywords: bullish am inside day candle potlatch corp

Ticker(s): PCH