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Possible Bearish Inside Day Candle Pattern Detected for Aptargroup Inc (NYSE:ATR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Aptargroup Inc (NYSE:ATR) based on the price action in the company's shares. Yesterday's price range of $92.10 and $95.84 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. Owners of Aptargroup Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Aptargroup Inc share prices have been bracketed by a low of $79.84 and a high of $126.20 and closed yesterday at $94.00, 18% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 2.3%.

AptarGroup, Inc. designs, manufactures, and markets pumps, dispensing closures, and aerosol valves. The Company's products are used for fragrance and cosmetics, personal care, pharmaceutical, household and industrial, and food products. AptarGroup operates worldwide.

Aptargroup Inc (NYSE:ATR) is currently priced 2.1% above its average consensus analyst price target of $92.00. Aptargroup Inc shares should first meet resistance at the 50-day moving average (MA) of $107.51 and find additional resistance at the 200-day MA of $115.04.

SmarTrend recommended that its subscribers protect gains by selling shares of Aptargroup Inc on February 21st, 2020 by issuing a Downtrend alert when the shares were trading at $111.91. Since that call, shares of Aptargroup Inc have fallen 16.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle aptargroup inc

Ticker(s): ATR