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Possible Bearish Inside Day Candle Pattern Detected for Harsco Corp (NYSE:HSC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Harsco Corp (NYSE:HSC) based on the price action in the company's shares. Yesterday's price range of $20.28 and $21.25 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 Harsco Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Harsco Corp (NYSE:HSC) has potential upside of 31.6% based on a current price of $20.51 and analysts' consensus price target of $27.00. The stock should find resistance at its 200-day moving average (MA) of $22.09, as well as support at its 50-day MA of $18.67.

In the past 52 weeks, Harsco Corp share prices have been bracketed by a low of $16.33 and a high of $29.18 and closed yesterday at $20.51, 26% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.

Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.

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

Keywords: bearish am inside day candle harsco corp

Ticker(s): HSC