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

By Shiri Gupta

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. Today's price range of $5.86 and $5.86 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 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 share prices have moved between a 52-week high of $5.97 and a 52-week low of $3.57 and are now trading 64% above that low price at $5.86 per share. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 2.3%.

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.

Based on a current price of $5.86, Dht Holdings Inc is currently 11.6% above its average consensus analyst price target of $5.18. Dht Holdings Inc shares have support at the 50-day moving average (MA) of $4.85 and additional support at the 200-day MA of $4.56.

SmarTrend recommended that subscribers consider buying shares of Dht Holdings Inc on March 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.43. Since that recommendation, shares of Dht Holdings Inc have risen 32.9%. We continue to monitor DHT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle dht holdings inc

Ticker(s): DHT