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Possible Bearish Inside Day Candle Pattern Detected for Stanley Black & (NYSE:SWK)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Stanley Black & (NYSE:SWK) based on the price action in the company's shares. Yesterday's price range of $112.03 and $116.50 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 Stanley Black & may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 61.8% for shares of Stanley Black & based on a current price of $113.58 and an average consensus analyst price target of $183.81. The stock should hit resistance at its 200-day moving average (MA) of $141.20, as well as support at its 50-day MA of $107.82.

Stanley Black & Decker Inc. is a diversified global provider of hand tools, power tools and related accessories, mechanical access and electronic security solutions, healthcare solutions, engineered fastening systems, and more.

In the past 52 weeks, Stanley Black & share prices have been bracketed by a low of $70.00 and a high of $173.67 and closed yesterday at $113.58, 62% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.5%.

SmarTrend is tracking the current trend status for Stanley Black & and will alert subscribers who have SWK in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle stanley black &

Ticker(s): SWK