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Possible Bearish Inside Day Candle Pattern Detected for Nvr Inc (NYSE:NVR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nvr Inc (NYSE:NVR) based on the price action in the company's shares. Yesterday's price range of $3,968.56 and $3,981.79 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 Nvr Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

NVR, Inc. builds and markets homes and conducts mortgage banking activities. The Company builds single-family detached homes, town homes, and condominium buildings under the Ryan Homes, NVHomes, and other trade names. NVR provides a number of mortgage related services to its homebuilding customers and to other customers through its mortgage banking operations.

Over the past year, Nvr Inc has traded in a range of $2562.02 to $4058.00 and closed yesterday at $3950.76, 54% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.3%.

Nvr Inc (NYSE:NVR) defies analysts with a current price ($3950.76) 11.2% above its average consensus price target of $3507.50. Nvr Inc shares have support at the 50-day moving average (MA) of $3842.55 and additional support at the 200-day MA of $3583.68.

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

Keywords: bearish am inside day candle nvr inc

Ticker(s): NVR