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

By David Diaz

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 $8.20 and $8.33 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 has overhead space with shares priced $8.32, or 12.4% below the average consensus analyst price target of $9.50. The stock should discover initial support at its 200-day moving average (MA) of $8.28 and subsequent support at its 50-day MA of $7.82.

Dice Holdings share prices have moved between a 52-week high of $10.48 and a 52-week low of $5.99 and closed yesterday at 39% above that low price at $8.32 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.6%.

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.

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 18.4%. 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