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Possible Bearish Inside Day Candle Pattern Detected for Acushnet Holdings Corp (:GOLF)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Acushnet Holdings Corp (:GOLF) based on the price action in the company's shares. Yesterday's price range of $24.93 and $25.31 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. Owners of Acushnet Holdings Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Acushnet Holdings Corp has traded in a range of $22.30 to $25.47 and closed yesterday at $25.20, 13% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.3%.

Based on a current price of $25.20, Acushnet Holdings Corp is currently 0.8% above its average consensus analyst price target of $25.00. The stock should discover initial support at its 50-day moving average (MA) of $23.78 and subsequent support at its 200-day MA of $23.71.

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

Keywords: bearish am inside day candle :golf acushnet holdings corp

Ticker(s): GOLF