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Possible Bearish Inside Day Candle Pattern Detected for Kbr Inc (NYSE:KBR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kbr Inc (NYSE:KBR) based on the price action in the company's shares. Yesterday's price range of $30.15 and $31.24 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 Kbr Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Kbr Inc has traded in a range of $18.01 to $31.92 and closed yesterday at $31.10, 73% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.3%.

Kbr Inc (NYSE:KBR) defies analysts with a current price ($31.10) 38.5% above its average consensus price target of $19.14. The stock should discover initial support at its 50-day moving average (MA) of $29.77 and subsequent support at its 200-day MA of $26.56.

KBR, Inc. is a global engineering, construction, and services company supporting the energy, petrochemicals, government services, and civil infrastructure sectors. The Company offers a wide range of services through two business segments, Energy and Chemicals (E&C) and Government and Infrastructure (G&I).

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

Keywords: bearish am inside day candle KBR Inc

Ticker(s): KBR