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Possible Bullish Inside Day Candle Pattern Detected for Sealed Air (NYSE:SEE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Sealed Air (NYSE:SEE) based on the price action in the company's shares. Today's price range of $43.62 and $44.22 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 Sealed Air 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, Sealed Air share prices have been bracketed by a low of $38.02 and a high of $55.84 and are now at $43.62, 15% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.5%.

Sealed Air Corporation manufactures a wide range of packaging and performance-based materials and equipment systems. The Company's products serve an array of food, industrial, medical, and consumer applications.

Sealed Air has overhead space with shares priced $43.62, or 19.4% below the average consensus analyst price target of $54.11. Sealed Air shares should first meet resistance at the 200-day moving average (MA) of $47.23 and find additional resistance at the 50-day MA of $48.19.

SmarTrend recommended that its subscribers protect gains by selling shares of Sealed Air on May 6th, 2016 by issuing a Downtrend alert when the shares were trading at $46.36. Since that call, shares of Sealed Air have fallen 6.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle sealed air

Ticker(s): SEE