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Possible Bearish Inside Day Candle Pattern Detected for Masonite Interna (NYSE:DOOR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Masonite Interna (NYSE:DOOR) based on the price action in the company's shares. Yesterday's price range of $58.60 and $60.77 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 Masonite Interna 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 Masonite Interna have traded between a low of $34.88 and a high of $89.20 and closed yesterday at $59.08, which is 69% above that low price. The 200-day and 50-day moving averages have moved 0.13% higher and 3.4% lower over the past week, respectively.

There is potential upside of 32.4% for shares of Masonite Interna based on a current price of $59.08 and an average consensus analyst price target of $78.22. The stock should hit resistance at its 200-day moving average (MA) of $61.82, as well as support at its 50-day MA of $56.50.

Masonite International Corporation operates as a holding company. The Company, through its subsidiary, manufactures residential and commercial doors. Masonite offers interior, entry, and patio doors through a network of local dealers and home improvement retailers. Masonite International serves customers worldwide.

SmarTrend is tracking the current trend status for Masonite Interna and will alert subscribers who have DOOR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle masonite interna

Ticker(s): DOOR