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Possible Bullish Inside Day Candle Pattern Detected for Gibraltar Indust (NASDAQ:ROCK)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Gibraltar Indust (NASDAQ:ROCK) based on the price action in the company's shares. Yesterday's price range of $43.52 and $44.95 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 Gibraltar Indust may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Gibraltar Industries, Inc. is a manufacturer, processor, and distributor of metals and other engineered materials for the building products, vehicular, and other industrial markets. The Company serves customers in a variety of industries in North and South America, Europe, and Asia.

Gibraltar Indust (NASDAQ:ROCK) has potential upside of 2.1% based on a current price of $44.09 and analysts' consensus price target of $45.00. Gibraltar Indust shares should encounter resistance at the 200-day moving average (MA) of $47.43 and support at the 50-day MA of $43.86.

Gibraltar Indust share prices have moved between a 52-week high of $56.58 and a 52-week low of $30.60 and closed yesterday at 44% above that low price at $44.09 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 1.6%.

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

Keywords: bullish am inside day candle gibraltar indust

Ticker(s): ROCK