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

By Shiri Gupta

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. Today's price range of $23.17 and $23.17 is within yesterday'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.

In the past 52 weeks, shares of Hain Celestial have traded between a low of $14.45 and a high of $34.41 and are now at $23.17, which is 60% 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 advanced 3.0%.

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 has overhead space with shares priced $23.17, or 31.2% below the average consensus analyst price target of $33.69. Hain Celestial shares should encounter resistance at the 200-day moving average (MA) of $23.89 and support at the 50-day MA of $19.11.

SmarTrend recommended that subscribers consider buying shares of Hain Celestial on March 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.45. Since that recommendation, shares of Hain Celestial have risen 19.8%. We continue to monitor HAIN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle hain celestial

Ticker(s): HAIN