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Possible Bullish Inside Day Candle Pattern Detected for Vulcan Materials (NYSE:VMC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Vulcan Materials (NYSE:VMC) based on the price action in the company's shares. Yesterday's price range of $147.06 and $147.06 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 Vulcan Materials may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Vulcan Materials has traded in a range of $100.50 to $152.49 and closed yesterday at $146.66, 46% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

Vulcan Materials Company produces construction aggregates. The Company's principal product lines are aggregates, asphalt mix and concrete, and cement. Vulcan Materials serves customers in the United States of America.

Vulcan Materials (NYSE:VMC) is currently priced 1.0% above its average consensus analyst price target of $145.25. The stock should discover initial support at its 50-day moving average (MA) of $142.50 and subsequent support at its 200-day MA of $139.51.

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

Keywords: bullish am inside day candle Vulcan Materials

Ticker(s): VMC