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Possible Bearish Inside Day Candle Pattern Detected for Bristow Group In (NYSE:BRS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Bristow Group In (NYSE:BRS) based on the price action in the company's shares. Today's price range of $1.30 and $1.39 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 Bristow Group In may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 1,031.4% exists for Bristow Group In, based on a current level of $1.39 and analysts' average consensus price target of $15.73. Bristow Group In shares should first meet resistance at the 50-day moving average (MA) of $2.25 and find additional resistance at the 200-day MA of $8.24.

Bristow Group Inc. provides industrial aviation services to the offshore energy companies in Europe Caspian, Africa, the Americas, and the Asia Pacific. The company offers helicopter charter services to transport personnel between onshore bases and offshore production platforms, drilling rigs, and other installations, as well as to transport time-sensitive equipment to these offshore locations

Bristow Group In share prices have moved between a 52-week high of $18.91 and a 52-week low of $0.96 and are now trading 45% above that low price at $1.39 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.9% while the 50-day MA has declined 4.2%.

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

Keywords: bearish inside day candle bristow group in

Ticker(s): BRS