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Possible Bullish Inside Day Candle Pattern Detected for Tupperware Brand (NYSE:TUP)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Tupperware Brand (NYSE:TUP) based on the price action in the company's shares. Yesterday's price range of $7.57 and $7.99 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 Tupperware Brand may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Tupperware Brand share prices have been bracketed by a low of $7.41 and a high of $38.67 and closed yesterday at $7.85, 6% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 6% while the 200-day MA has slid 2.8%.

Tupperware Brand has overhead space with shares priced $7.85, or 83.8% below the average consensus analyst price target of $48.50. The stock should run into initial resistance at its 50-day moving average (MA) of $12.00 and subsequent resistance at its 200-day MA of $18.50.

Tupperware Brands Corporation is a portfolio of global direct selling companies which sell products across multiple brands and categories through an independent sales force. The Company's product brands and categories include food preparation, storage, and serving solutions for the kitchen and home. Tupperware Brands also sells beauty and personal care products.

SmarTrend recommended that its subscribers protect gains by selling shares of Tupperware Brand on October 30th, 2019 by issuing a Downtrend alert when the shares were trading at $11.55. Since that call, shares of Tupperware Brand have fallen 32.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle tupperware brand

Ticker(s): TUP