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Possible Bullish Inside Day Candle Pattern Detected for Ppg Inds Inc (NYSE:PPG)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ppg Inds Inc (NYSE:PPG) based on the price action in the company's shares. Yesterday's price range of $120.21 and $120.75 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 Ppg Inds Inc 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, Ppg Inds Inc share prices have been bracketed by a low of $102.51 and a high of $134.36 and closed yesterday at $121.34, 18% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

PPG Industries, Inc. supplies products for the manufacturing, construction, automotive, chemical processing, and other industries worldwide. The Company makes protective and decorative coatings, flat glass, fabricated glass products, continuous-strand fiber glass products, and industrial and specialty chemicals.

There is potential upside of 0.0% for shares of Ppg Inds Inc based on a current price of $121.34 and an average consensus analyst price target of $121.35. Ppg Inds Inc shares should encounter resistance at the 50-day moving average (MA) of $129.14 and support at its 200-day MA of $119.74.

SmarTrend is tracking the current trend status for Ppg Inds Inc and will alert subscribers who have PPG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle ppg inds inc

Ticker(s): PPG