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

By James Quinn

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 $50.47 and $51.32 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.

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.

In the past 52 weeks, shares of Wr Grace & Co have traded between a low of $26.75 and a high of $79.71 and closed yesterday at $51.14, which is 91% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has slid 0.6%.

Wr Grace & Co (NYSE:GRA) has potential upside of 58.2% based on a current price of $51.14 and analysts' consensus price target of $80.91. The stock should find resistance at its 200-day moving average (MA) of $60.66, as well as support at its 50-day MA of $41.81.

SmarTrend is tracking the current trend status for Wr Grace & Co and will alert subscribers who have GRA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle wr grace & co

Ticker(s): GRA