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Possible Bearish Inside Day Candle Pattern Detected for Energizer Holdin (NYSE:ENR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Energizer Holdin (NYSE:ENR) based on the price action in the company's shares. Yesterday's price range of $48.14 and $48.37 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 Energizer Holdin may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Energizer Holdin have traded between a low of $42.74 and a high of $65.57 and closed yesterday at $48.10, which is 13% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

Energizer Holdings, Inc. manufactures dry cell batteries and flashlights. The Company offers a full line of products, including alkaline, carbon zinc, miniature, and rechargeable batteries, as well as lighting products. Energizer also manufactures and markets a range of razor and shave related products on a global basis.

There is potential upside of 31.0% for shares of Energizer Holdin based on a current price of $48.10 and an average consensus analyst price target of $63.00. The stock should find resistance at its 200-day moving average (MA) of $53.87, as well as support at its 50-day MA of $46.26.

SmarTrend is tracking the current trend status for Energizer Holdin and will alert subscribers who have ENR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle energizer holdin

Ticker(s): ENR