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Possible Bearish Inside Day Candle Pattern Detected for Dice Holdings (NYSE:DHX)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dice Holdings (NYSE:DHX) based on the price action in the company's shares. Yesterday's price range of $7.91 and $8.08 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 Dice Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Dice Holdings Inc is a provider that specialize in career sites and career fairs for high growth vertical sectors. The Company provides services to help recruiters, consultants and businesses hire and train highly qualified professionals.

Potential upside of 18.5% exists for Dice Holdings, based on a current level of $8.02 and analysts' average consensus price target of $9.50. The stock should hit resistance at its 200-day moving average (MA) of $8.28, as well as support at its 50-day MA of $7.82.

In the past 52 weeks, shares of Dice Holdings have traded between a low of $5.99 and a high of $10.48 and closed yesterday at $8.02, which is 34% above that low price. The 200-day and 50-day moving averages have moved 0.47% lower and 0.55% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Dice Holdings on July 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.05. Since that recommendation, shares of Dice Holdings have risen 13.8%. We continue to monitor DHX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle dice holdings

Ticker(s): DHX