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Possible Bullish Inside Day Candle Pattern Detected for Vulcan Materials (NYSE:VMC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Vulcan Materials (NYSE:VMC) based on the price action in the company's shares. Yesterday's price range of $97.37 and $99.44 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 Vulcan Materials 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, Vulcan Materials share prices have been bracketed by a low of $65.56 and a high of $152.49 and closed yesterday at $98.73, 51% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.2%.

Vulcan Materials (NYSE:VMC) has potential upside of 47.1% based on a current price of $98.73 and analysts' consensus price target of $145.25. The stock should find initial resistance at its 50-day moving average (MA) of $106.24 and further resistance at its 200-day MA of $133.10.

Vulcan Materials Company produces construction aggregates. The Company's principal product lines are aggregates, asphalt mix and concrete, and cement. Vulcan Materials serves customers in the United States of America.

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

Keywords: bullish am inside day candle Vulcan Materials

Ticker(s): VMC