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Possible Bearish Inside Day Candle Pattern Detected for Berry Global Gro (NYSE:BERY)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Berry Global Gro (NYSE:BERY) based on the price action in the company's shares. Yesterday's price range of $47.91 and $48.39 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 Berry Global Gro 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, Berry Global Gro share prices have been bracketed by a low of $36.98 and a high of $59.16 and closed yesterday at $48.17, 30% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

Berry Global Gro (NYSE:BERY) has potential upside of 36.4% based on a current price of $48.17 and analysts' consensus price target of $65.73. Berry Global Gro shares have support at the 200-day moving average (MA) of $46.80 and additional support at the 50-day MA of $45.73.

Berry Global Group, Inc. manufactures plastic products and containers. The Company produces plastic films, medical specialties, closures, overcaps, tapes, tubes, bottles, drink cups, lids, and trash bags. Berry Global Group serves customers worldwide.

SmarTrend recommended that subscribers consider buying shares of Berry Global Gro on October 28th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.52. Since that recommendation, shares of Berry Global Gro have risen 14.7%. We continue to monitor BERY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle berry global gro

Ticker(s): BERY