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Possible Bearish Inside Day Candle Pattern Detected for Kraton Corp (NYSE:KRA)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kraton Corp (NYSE:KRA) based on the price action in the company's shares. Yesterday's price range of $6.26 and $7.05 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 Kraton Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Kraton Corp is a producer of styrenic block copolymers, specialty polymers and performance products derived from pine wood pulping co-products. The Company's products are used in a wide range of applications, including adhesives, coatings, consumer and personal care products. Kraton also sells pine-based specialty products.

In the past 52 weeks, Kraton Corp share prices have been bracketed by a low of $4.45 and a high of $38.58 and closed yesterday at $6.66, 50% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 11.7% while the 200-day MA has slid 2.1%.

Kraton Corp has overhead space with shares priced $6.66, or 89.0% below the average consensus analyst price target of $60.50. Kraton Corp shares should first meet resistance at the 50-day moving average (MA) of $13.35 and find additional resistance at the 200-day MA of $23.58.

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

Keywords: bearish am inside day candle kraton corp

Ticker(s): KRA