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Possible Bearish Inside Day Candle Pattern Detected for Dht Holdings Inc (NYSE:DHT)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dht Holdings Inc (NYSE:DHT) based on the price action in the company's shares. Yesterday's price range of $4.50 and $4.55 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 Dht Holdings Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

DHT Holdings, Inc. is an independent crude oil tanker company. The company provides transportation services to oil companies and trades internationally with a fleet of crude oil tankers in the VLCC, Aframax, and Suezmax segments.

Over the past year, Dht Holdings Inc has traded in a range of $3.27 to $5.60 and closed yesterday at $4.50, 38% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.3%.

Potential upside of 15.2% exists for Dht Holdings Inc, based on a current level of $4.50 and analysts' average consensus price target of $5.18. Dht Holdings Inc shares have support at the 200-day moving average (MA) of $4.47 and additional support at the 50-day MA of $4.23.

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

Keywords: bearish am inside day candle dht holdings inc

Ticker(s): DHT