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Possible Bullish Inside Day Candle Pattern Detected for Rpm Intl Inc (NYSE:RPM)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Rpm Intl Inc (NYSE:RPM) based on the price action in the company's shares. Yesterday's price range of $48.30 and $49.29 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 Rpm Intl 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.

There is potential upside of 17.8% for shares of Rpm Intl Inc based on a current price of $48.60 and an average consensus analyst price target of $57.27. Rpm Intl Inc shares have support at the 50-day moving average (MA) of $47.03 and additional support at the 200-day MA of $44.50.

Rpm Intl Inc share prices have moved between a 52-week high of $56.69 and a 52-week low of $46.25 and closed yesterday at 5% above that low price at $48.60 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.8% while the 200-day MA has remained constant.

RPM International, Inc. manufactures, markets, and sells various specialty chemical product lines. The Company's product lines include specialty paints, protective coatings and roofing systems, sealants and adhesives, focusing on the maintenance needs of both the industrial and consumer markets.

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

Keywords: bullish am inside day candle rpm intl inc

Ticker(s): RPM