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

By James Quinn

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. Yesterday's price range of $44.46 and $44.99 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 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.

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.

In the past 52 weeks, shares of Sealed Air have traded between a low of $38.02 and a high of $55.84 and closed yesterday at $44.80, which is 18% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.2%.

Sealed Air has overhead space with shares priced $44.80, or 17.2% below the average consensus analyst price target of $54.11. The stock should find initial resistance at its 200-day moving average (MA) of $47.23 and further resistance at its 50-day MA of $48.19.

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

Keywords: bullish am inside day candle sealed air

Ticker(s): SEE