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Possible Bearish Inside Day Candle Pattern Detected for Henry Schein Inc (NASDAQ:HSIC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Henry Schein Inc (NASDAQ:HSIC) based on the price action in the company's shares. Today's price range of $67.73 and $67.73 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 Henry Schein Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Henry Schein Inc has traded in a range of $53.91 to $71.65 and is now at $67.73, 26% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.4%.

There is potential upside of 13.8% for shares of Henry Schein Inc based on a current price of $67.73 and an average consensus analyst price target of $77.06. Henry Schein Inc shares have support at the 200-day moving average (MA) of $63.35 and additional support at the 50-day MA of $62.40.

Henry Schein, Inc. distributes healthcare products and services, including practice management software, to office-based healthcare practitioners. The Company has operations in North America and other countries. Henry Schein's operations include direct marketing, telesales, and field sales.

SmarTrend recommended that subscribers consider buying shares of Henry Schein Inc on April 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.21. Since that recommendation, shares of Henry Schein Inc have risen 9.3%. We continue to monitor HSIC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle henry schein inc

Ticker(s): HSIC