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

By Nick Russo

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 $43.46 and $43.46 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 Holdin (NASDAQ:HDS) has potential upside of 2.1% based on a current price of $43.46 and analysts' consensus price target of $44.36. Hd Supply Holdin shares should encounter resistance at the 50-day moving average (MA) of $43.91 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.

Hd Supply Holdin share prices have moved between a 52-week high of $47.13 and a 52-week low of $35.35 and are now trading 23% above that low price at $43.46 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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 inside day candle hd supply holdin

Ticker(s): HDS