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Possible Bullish Inside Day Candle Pattern Detected for Greenbrier Cos (NYSE:GBX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Greenbrier Cos (NYSE:GBX) based on the price action in the company's shares. Yesterday's price range of $13.60 and $14.68 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 Greenbrier Cos may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

The Greenbrier Companies, Inc. supplies transportation equipment and services to the railroad and related industries. The Company's manufacturing segment produces railcars and marine vessels. Greenbrier also provides repair and refurbishment for intermodal and conventional railcars. In addition, the Company provides complementary leasing and services activities.

In the past 52 weeks, shares of Greenbrier Cos have traded between a low of $12.89 and a high of $36.41 and closed yesterday at $14.36, which is 11% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 4.5%.

Greenbrier Cos has overhead space with shares priced $14.36, or 74.4% below the average consensus analyst price target of $56.11. The stock should find initial resistance at its 50-day moving average (MA) of $21.83 and further resistance at its 200-day MA of $26.77.

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

Keywords: bullish am inside day candle greenbrier cos

Ticker(s): GBX