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Possible Bearish Inside Day Candle Pattern Detected for Hershey Co/The (NYSE:HSY)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hershey Co/The (NYSE:HSY) based on the price action in the company's shares. Yesterday's price range of $156.59 and $156.86 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 Hershey Co/The may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Hershey Co/The share prices have moved between a 52-week high of $162.20 and a 52-week low of $107.82 and closed yesterday at 46% above that low price at $157.53 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.4%.

Hershey Co/The (NYSE:HSY) is currently priced 37.5% above its average consensus analyst price target of $98.39. The stock should discover initial support at its 50-day moving average (MA) of $149.67 and subsequent support at its 200-day MA of $145.87.

The Hershey Company manufactures chocolate and sugar confectionery products. The Company's principal products includes chocolate and sugar confectionery products, gum and mint refreshment products, and pantry items, such as baking ingredients, toppings, and beverages.

SmarTrend is tracking the current trend status for Hershey Co/The and will alert subscribers who have HSY in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle hershey co/the

Ticker(s): HSY