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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. Yesterday's price range of $38.41 and $39.15 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 has overhead space with shares priced $38.75, or 11.2% below the average consensus analyst price target of $43.64. Hd Supply Holdin shares have support at the 50-day moving average (MA) of $31.87 and additional support at the 200-day MA of $30.48.

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, Hd Supply Holdin share prices have been bracketed by a low of $28.97 and a high of $44.73 and closed yesterday at $38.75, 34% above that low price. The 200-day and 50-day moving averages have moved 0.14% lower and 1.86% 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