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Possible Bullish Inside Day Candle Pattern Detected for Sealed Air Corp (NYSE:SEE)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Sealed Air Corp (NYSE:SEE) based on the price action in the company's shares. Yesterday's price range of $35.71 and $36.08 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 Sealed Air Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Sealed Air Corp (NYSE:SEE) has potential upside of 38.2% based on a current price of $36.08 and analysts' consensus price target of $49.86. Sealed Air Corp shares should first meet resistance at the 50-day moving average (MA) of $38.28 and find additional resistance at the 200-day MA of $41.26.

In the past 52 weeks, Sealed Air Corp share prices have been bracketed by a low of $35.43 and a high of $47.13 and closed yesterday at $36.08, 2% above that low price. The 200-day and 50-day moving averages have moved 0.37% lower and 0.33% lower over the past week, respectively.

Sealed Air Corporation manufactures packaging and performance-based materials and equipment systems that serve food, industrial, medical, and consumer applications.

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

Keywords: bullish am inside day candle sealed air corp

Ticker(s): SEE