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Possible Bullish Inside Day Candle Pattern Detected for General Dynamics (NYSE:GD)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in General Dynamics (NYSE:GD) based on the price action in the company's shares. Yesterday's price range of $130.00 and $130.75 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. Traders and investors interested in shares of General Dynamics may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

General Dynamics has overhead space with shares priced $134.50, or 46.3% below the average consensus analyst price target of $250.38. General Dynamics shares should first meet resistance at the 50-day moving average (MA) of $144.33 and find additional resistance at the 200-day MA of $173.05.

Over the past year, General Dynamics has traded in a range of $100.55 to $193.76 and closed yesterday at $134.50, 34% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 2.4%.

General Dynamics Corporation is a diversified defense company. The Company offers a broad portfolio of products and services in business aviation, combat vehicles, weapons systems, munitions, shipbuilding design and construction, information systems, and technologies.

SmarTrend is tracking the current trend status for General Dynamics and will alert subscribers who have GD in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle General Dynamics

Ticker(s): GD