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Possible Bullish Inside Day Candle Pattern Detected for Church & Dwight (NYSE:CHD)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Church & Dwight (NYSE:CHD) based on the price action in the company's shares. Yesterday's price range of $70.72 and $71.62 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. Traders and investors interested in shares of Church & Dwight may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Church & Dwight Co., Inc. develops, manufactures, and distributes household, personal care, and specialty products. The Company offers contraceptive products, laundry and dishwashing detergents, toothbrushes, shampoos, vitamins, pregnancy test kits, and hair removers. Church & Dwight sells its products to consumers through supermarkets, mass merchandisers, drugstores, and websites.

Based on a current price of $71.41, Church & Dwight is currently 29.8% above its average consensus analyst price target of $50.12. The stock should find resistance at its 200-day moving average (MA) of $72.33, as well as support at its 50-day MA of $69.95.

Over the past year, Church & Dwight has traded in a range of $47.98 to $80.99 and closed yesterday at $71.41, 49% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

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

Keywords: bullish am inside day candle church & dwight

Ticker(s): CHD