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Possible Bearish Inside Day Candle Pattern Detected for Intl Flvr & Frag (NYSE:IFF)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Intl Flvr & Frag (NYSE:IFF) based on the price action in the company's shares. Yesterday's price range of $109.04 and $113.40 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 Intl Flvr & Frag may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

International Flavors & Fragrances Inc. creates, manufactures, and supplies flavors and fragrances for the food, beverage, personal care, and household products industries. The Company's flavors and fragrances are individual ingredients and compounds of a large number of ingredients that are blended, mixed, and reacted together to produce proprietary formulas.

Over the past year, Intl Flvr & Frag has traded in a range of $92.14 to $152.95 and closed yesterday at $110.22, 20% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.8%.

Potential upside of 30.3% exists for Intl Flvr & Frag, based on a current level of $110.22 and analysts' average consensus price target of $143.65. The stock should find initial resistance at its 50-day moving average (MA) of $124.83 and further resistance at its 200-day MA of $128.08.

SmarTrend is monitoring the recent change of momentum in Intl Flvr & Frag. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Intl Flvr & Frag in search of a potential trend change.

Keywords: bearish am inside day candle intl flvr & frag

Ticker(s): IFF