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

By James Quinn

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 $110.55 and $111.44 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 $82.52 to $133.59 and closed yesterday at $111.23, 35% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.1%.

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

There is potential upside of 30.6% for shares of Vulcan Materials based on a current price of $111.23 and an average consensus analyst price target of $145.25. Vulcan Materials shares have support at the 200-day moving average (MA) of $110.67 and additional support at the 50-day MA of $106.46.

SmarTrend recommended that subscribers consider buying shares of Vulcan Materials on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $102.77. Since that recommendation, shares of Vulcan Materials have risen 6.9%. We continue to monitor VMC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle Vulcan Materials

Ticker(s): VMC