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Possible Bearish Inside Day Candle Pattern Detected for Bwx Technologies (NYSE:BWXT)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Bwx Technologies (NYSE:BWXT) based on the price action in the company's shares. Yesterday's price range of $57.28 and $58.37 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 Bwx Technologies may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Bwx Technologies (NYSE:BWXT) has potential upside of 26.8% based on a current price of $58.37 and analysts' consensus price target of $74.00. The stock should discover initial support at its 200-day moving average (MA) of $57.82 and subsequent support at its 50-day MA of $50.54.

BWX Technologies, Inc. supplies nuclear components and fuel. The Company offers precision manufactured components and services for the commercial nuclear power industry. BWX Technologies also provides technical, management, and site services to support government in the operation of complex facilities and environmental remediation activities.

In the past 52 weeks, shares of Bwx Technologies have traded between a low of $40.40 and a high of $70.57 and closed yesterday at $58.37, which is 44% above that low price. The 200-day and 50-day moving averages have moved 0.12% higher and 0% lower over the past week, respectively.

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

Keywords: bearish am inside day candle bwx technologies

Ticker(s): BWXT