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Possible Bearish Inside Day Candle Pattern Detected for Rpm Intl Inc (NYSE:RPM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Rpm Intl Inc (NYSE:RPM) based on the price action in the company's shares. Yesterday's price range of $74.74 and $75.50 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 Rpm Intl Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Rpm Intl Inc (NYSE:RPM) is currently priced 23.5% above its average consensus analyst price target of $57.40. The stock should discover initial support at its 50-day moving average (MA) of $69.29 and subsequent support at its 200-day MA of $62.53.

RPM International, Inc. manufactures, markets, and sells various specialty chemical product lines. The Company's product lines include specialty paints, protective coatings and roofing systems, sealants and adhesives, focusing on the maintenance needs of both the industrial and consumer markets.

Over the past year, Rpm Intl Inc has traded in a range of $51.95 to $75.86 and closed yesterday at $75.00, 44% above that low. The 200-day and 50-day moving averages have moved 0.47% higher and 0.74% higher over the past week, respectively.

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

Keywords: bearish am inside day candle rpm intl inc

Ticker(s): RPM