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Possible Bearish Inside Day Candle Pattern Detected for Quaker Chemical (NYSE:KWR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Quaker Chemical (NYSE:KWR) based on the price action in the company's shares. Yesterday's price range of $150.41 and $158.46 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 Quaker Chemical may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Quaker Chemical share prices have moved between a 52-week high of $224.30 and a 52-week low of $108.14 and closed yesterday at 41% above that low price at $152.12 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 2%.

There is potential upside of 4.4% for shares of Quaker Chemical based on a current price of $152.12 and an average consensus analyst price target of $158.80. Quaker Chemical shares should encounter resistance at the 200-day moving average (MA) of $158.50 and support at the 50-day MA of $143.19.

Quaker Chemical Corporation produces, develops, and markets custom-formulated chemical specialty products. The Company also provides fluid management services for manufacturers around the world, primarily in the steel, automotive, and can industries.

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

Keywords: bearish am inside day candle quaker chemical

Ticker(s): KWR