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Possible Bearish Inside Day Candle Pattern Detected for Hain Celestial (NASDAQ:HAIN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hain Celestial (NASDAQ:HAIN) based on the price action in the company's shares. Yesterday's price range of $24.11 and $24.42 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 Hain Celestial may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Hain Celestial share prices have moved between a 52-week high of $31.53 and a 52-week low of $14.45 and closed yesterday at 68% above that low price at $24.30 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.4%.

The Hain Celestial Group, Inc. is a natural and organic beverage, snack, specialty food, and personal care products company. The Company's product line include grocery store foods such as organic cookies, cooking oils, sugar free products, kosher foods, snacks, and frozen foods, as well as organic skin, hair, and body products. Hain Celestial sells and markets in North America and Europe.

Hain Celestial (NASDAQ:HAIN) has potential upside of 38.7% based on a current price of $24.30 and analysts' consensus price target of $33.69. The stock should discover initial support at its 200-day moving average (MA) of $22.65 and subsequent support at its 50-day MA of $22.55.

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

Keywords: bearish am inside day candle hain celestial

Ticker(s): HAIN