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

By Amy Schwartz

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 $126.58 and $127.20 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.

In the past 52 weeks, shares of Intl Flvr & Frag have traded between a low of $104.86 and a high of $152.95 and closed yesterday at $129.30, which is 23% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

There is potential upside of 11.1% for shares of Intl Flvr & Frag based on a current price of $129.30 and an average consensus analyst price target of $143.65. The stock should run into initial resistance at its 200-day moving average (MA) of $131.13 and subsequent resistance at its 50-day MA of $131.48.

SmarTrend is tracking the current trend status for Intl Flvr & Frag and will alert subscribers who have IFF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle intl flvr & frag

Ticker(s): IFF