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Possible Bearish Inside Day Candle Pattern Detected for Heidrick & Strug (NASDAQ:HSII)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Heidrick & Strug (NASDAQ:HSII) based on the price action in the company's shares. Yesterday's price range of $38.10 and $38.55 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 Heidrick & Strug may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Heidrick & Strug (NASDAQ:HSII) defies analysts with a current price ($38.35) 2.2% above its average consensus price target of $37.50. The stock should discover initial support at its 50-day moving average (MA) of $36.61 and subsequent support at its 200-day MA of $27.58.

In the past 52 weeks, Heidrick & Strug share prices have been bracketed by a low of $16.23 and a high of $39.73 and closed yesterday at $38.35, 136% above that low price. The 200-day and 50-day moving averages have moved 1.83% higher and 1.94% higher over the past week, respectively.

Heidrick & Struggles International, Inc. is an executive search firm with operations around the world. The Company identifies, evaluates, and recommends qualified candidates for senior level executive positions. Heidrick & Struggles provides its services to clients such as Fortune 500 companies, middle market and emerging growth companies, and governmental organizations.

SmarTrend recommended that subscribers consider buying shares of Heidrick & Strug on March 7th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.28. Since that recommendation, shares of Heidrick & Strug have risen 31.0%. We continue to monitor HSII for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle heidrick & strug

Ticker(s): HSII