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

By David Diaz

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. Yesterday's price range of $43.18 and $43.48 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 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 Holdin (NASDAQ:HDS) has potential upside of 2.4% based on a current price of $43.33 and analysts' consensus price target of $44.36. Hd Supply Holdin shares should encounter resistance at the 50-day moving average (MA) of $43.92 and support at its 200-day MA of $41.60.

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.

In the past 52 weeks, shares of Hd Supply Holdin have traded between a low of $35.35 and a high of $47.13 and closed yesterday at $43.33, which is 23% above that low price. The 200-day and 50-day moving averages have moved 0% lower and 0.06% higher over the past week, respectively.

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

Keywords: bearish am inside day candle hd supply holdin

Ticker(s): HDS