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

By David Diaz

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. Yesterday's price range of $13.08 and $13.47 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 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.

Bristow Group In (NYSE:BRS) has potential upside of 19.8% based on a current price of $13.15 and analysts' consensus price target of $15.75. The stock should run into initial resistance at its 50-day moving average (MA) of $19.21 and subsequent resistance at its 200-day MA of $27.02.

Bristow Group, Inc. provides helicopter transportation services to the offshore oil and gas industry. Through its subsidiaries, affiliates, and joint ventures, the Company offers transportation services in oil and gas producing regions around the world.

In the past 52 weeks, Bristow Group In share prices have been bracketed by a low of $6.21 and a high of $21.88 and closed yesterday at $13.15, 112% above that low price. The 200-day and 50-day moving averages have moved 2.1% lower and 2.81% higher over the past week, respectively.

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 am inside day candle bristow group in

Ticker(s): BRS