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Possible Bearish Inside Day Candle Pattern Detected for Coty Inc-Cl A (NYSE:COTY)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Coty Inc-Cl A (NYSE:COTY) based on the price action in the company's shares. Today's price range of $13.56 and $13.56 is within yesterday'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. Owners of Coty Inc-Cl A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.


There is potential upside of 31.0% for shares of Coty Inc-Cl A based on a current price of $13.56 and an average consensus analyst price target of $17.76. Coty Inc-Cl A shares have support at the 50-day moving average (MA) of $11.89 and additional support at the 200-day MA of $10.39.

Coty Inc-Cl A share prices have moved between a 52-week high of $14.87 and a 52-week low of $5.91 and are now trading 129% above that low price at $13.56 per share. The 200-day and 50-day moving averages have moved 0.26% higher and 1.22% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Coty Inc-Cl A on February 1st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.65. Since that recommendation, shares of Coty Inc-Cl A have risen 76.6%. We continue to monitor COTY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle coty inc-cl a

Ticker(s): COTY