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Possible Bearish Inside Day Candle Pattern Detected for Brink'S Co/The (:BCO)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Brink'S Co/The (:BCO) based on the price action in the company's shares. Yesterday's price range of $50.95 and $52.86 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 Brink'S Co/The 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, shares of Brink'S Co/The have traded between a low of $40.18 and a high of $97.12 and closed yesterday at $51.12, which is 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.4% while the 200-day MA has slid 0.9%.

The Brink's Company provides security services globally. The Company provides secure transportation, cash logistics and other security-related services to banks and financial institutions, retailers, government agencies, mints, jewelers, and other commercial operations around the world.

Potential upside of 94.3% exists for Brink'S Co/The, based on a current level of $51.12 and analysts' average consensus price target of $99.33. The stock should run into initial resistance at its 50-day moving average (MA) of $58.68 and subsequent resistance at its 200-day MA of $79.60.

SmarTrend is tracking the current trend status for Brink'S Co/The and will alert subscribers who have BCO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle :bco brink's co/the

Ticker(s): BCO