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Possible Bearish Inside Day Candle Pattern Detected for Hd Supply Holdin (NASDAQ:HDS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hd Supply Holdin (NASDAQ:HDS) based on the price action in the company's shares. Today's price range of $43.82 and $44.14 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 Hd Supply Holdin may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

HD Supply Holdings, Inc. is a holding company. The Company, through its subsidiaries, operates as an industrial distributor of products specializing in maintenance, repair & operations, infrastructure & power, and specialty construction.

Hd Supply Holdin (NASDAQ:HDS) has potential upside of 0.7% based on a current price of $44.04 and analysts' consensus price target of $44.36. The stock should find initial support at its 50-day moving average (MA) of $40.09 and further support at its 200-day MA of $37.58.

In the past 52 weeks, shares of Hd Supply Holdin have traded between a low of $28.97 and a high of $44.73 and are now at $44.04, which is 52% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.8%.

SmarTrend recommended that subscribers consider buying shares of Hd Supply Holdin on March 14th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.81. Since that recommendation, shares of Hd Supply Holdin have risen 14.0%. We continue to monitor HDS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle hd supply holdin

Ticker(s): HDS