• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Vulcan Materials (NYSE:VMC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Vulcan Materials (NYSE:VMC) based on the price action in the company's shares. Yesterday's price range of $142.24 and $143.06 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 Vulcan Materials may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Vulcan Materials (NYSE:VMC) has potential upside of 2.1% based on a current price of $142.22 and analysts' consensus price target of $145.25. The stock should discover initial support at its 50-day moving average (MA) of $141.49 and subsequent support at its 200-day MA of $137.48.

Vulcan Materials Company produces construction aggregates. The Company's principal product lines are aggregates, asphalt mix and concrete, and cement. Vulcan Materials serves customers in the United States of America.

In the past 52 weeks, Vulcan Materials share prices have been bracketed by a low of $97.45 and a high of $152.49 and closed yesterday at $142.22, 46% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

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

Keywords: bearish am inside day candle Vulcan Materials

Ticker(s): VMC