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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Heidrick & Struggles International (NASDAQ:HSII) based on the price action in the company's shares. Yesterday's price range of $25.65 and $26.20 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 & Struggles International may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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.

In the past 52 weeks, shares of Heidrick & Struggles International have traded between a low of $16.23 and a high of $30.62 and closed yesterday at $26.05, which is 61% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has slid 0.6%.

Heidrick & Struggles International (NASDAQ:HSII) defies analysts with a current price ($26.05) 4.0% above its average consensus price target of $25.00. The stock should find initial support at its 200-day moving average (MA) of $23.68 and further support at its 50-day MA of $22.97.

SmarTrend recommended that subscribers consider buying shares of Heidrick & Struggles International on February 28th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.62. Since that recommendation, shares of Heidrick & Struggles International have risen 10.3%. 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 & struggles international

Ticker(s): HSII