• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Generac Holdings (NYSE:GNRC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Generac Holdings (NYSE:GNRC) based on the price action in the company's shares. Yesterday's price range of $54.70 and $56.11 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 Generac Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Generac Holdings (NYSE:GNRC) is currently priced 4.4% above its average consensus analyst price target of $52.33. The stock should find resistance at its 50-day moving average (MA) of $55.46, as well as support at its 200-day MA of $50.92.

Generac Holdings, Inc. manufactures automatic, stationary standby, and portable generators. The Company's generators serve the residential, commercial, industrial, and telecommunications markets.

In the past 52 weeks, shares of Generac Holdings have traded between a low of $42.96 and a high of $60.70 and closed yesterday at $54.75, which is 27% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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

Keywords: bearish am inside day candle generac holdings

Ticker(s): GNRC