• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Wr Grace & Co (NYSE:GRA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Wr Grace & Co (NYSE:GRA) based on the price action in the company's shares. Yesterday's price range of $36.83 and $38.75 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 Wr Grace & Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Wr Grace & Co share prices have been bracketed by a low of $26.75 and a high of $79.71 and closed yesterday at $38.23, 43% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 5.8% while the 200-day MA has slid 1.4%.

Potential upside of 111.6% exists for Wr Grace & Co, based on a current level of $38.23 and analysts' average consensus price target of $80.91. Wr Grace & Co shares should first meet resistance at the 50-day moving average (MA) of $55.50 and find additional resistance at the 200-day MA of $65.81.

W.R. Grace & Co. supplies specialty chemical, construction, and container products. The Company focus on catalysts and silica, construction, fine chemical, and molecular sieves, and other products. W.R. Grace & Co serves food and beverages, consumer products, petroleum refinery, and construction industries worldwide.

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

Keywords: bearish am inside day candle wr grace & co

Ticker(s): GRA