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Possible Bullish Inside Day Candle Pattern Detected for RR Donnelley (NYSE:RRD)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in RR Donnelley (NYSE:RRD) based on the price action in the company's shares. Today's price range of $20.73 and $20.93 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 RR Donnelley may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

RR Donnelley share prices have moved between a 52-week high of $24.64 and a 52-week low of $12.07 and are now trading 72% above that low price at $20.82 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.7%.

R. R. Donnelley & Sons Company provides commercial printing and information services. The Company provides solutions that include commercial printing, direct mail, financial printing, print fulfillment, labels, forms, logistics, call centers, transactional print-and-mail, print management, online services, digital photography, color services, and content and database management.

RR Donnelley (NYSE:RRD) has potential upside of 21.7% based on a current price of $20.82 and analysts' consensus price target of $25.33. The stock should discover initial support at its 50-day moving average (MA) of $16.44 and subsequent support at its 200-day MA of $15.55.

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

Keywords: bullish inside day candle RR Donnelley

Ticker(s): RRD