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Possible Bearish Inside Day Candle Pattern Detected for Hb Fuller Co (NYSE:FUL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hb Fuller Co (NYSE:FUL) based on the price action in the company's shares. Yesterday's price range of $36.55 and $38.08 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 Hb Fuller Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Hb Fuller Co has overhead space with shares priced $36.79, or 37.4% below the average consensus analyst price target of $58.80. The stock should hit resistance at its 200-day moving average (MA) of $44.17, as well as support at its 50-day MA of $33.06.

H.B. Fuller Company manufactures and markets adhesives, sealants, coatings, paints, and other specialty chemical products worldwide. The Company's products are sold in countries that include North America, Europe, Latin America, the Asia Pacific region, India, the Middle East, and Africa.

In the past 52 weeks, shares of Hb Fuller Co have traded between a low of $23.68 and a high of $52.40 and closed yesterday at $36.79, which is 55% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 2.8%.

SmarTrend is tracking the current trend status for Hb Fuller Co and will alert subscribers who have FUL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle hb fuller co

Ticker(s): FUL