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Possible Bearish Inside Day Candle Pattern Detected for Lsb Indus Inc (NYSE:LXU)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lsb Indus Inc (NYSE:LXU) based on the price action in the company's shares. Yesterday's price range of $1.98 and $2.18 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 Lsb Indus Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Lsb Indus Inc have traded between a low of $1.18 and a high of $6.76 and closed yesterday at $1.99, which is 69% above that low price. The 200-day and 50-day moving averages have moved 0.89% lower and 3.19% lower over the past week, respectively.

LSB Industries, Inc., through its subsidiaries, manufactures and sells chemical products for the mining, agricultural, and industrial markets. The Company also manufactures and sells commercial and residential climate control products, as well as provides specialized engineering services and other activities.

Lsb Indus Inc (NYSE:LXU) has potential upside of 603.5% based on a current price of $1.99 and analysts' consensus price target of $14.00. Lsb Indus Inc shares should encounter resistance at the 200-day moving average (MA) of $3.68 and support at the 50-day MA of $1.80.

SmarTrend is tracking the current trend status for Lsb Indus Inc and will alert subscribers who have LXU in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle lsb indus inc

Ticker(s): LXU