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

By Amy Schwartz

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. Today's price range of $92.65 and $93.96 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 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.

In the past 52 weeks, Hershey Co/The share prices have been bracketed by a low of $89.10 and a high of $115.82 and are now at $92.68, 4% above that low price. The 200-day and 50-day moving averages have moved 0.31% lower and 0.66% lower over the past week, respectively.

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.

Potential upside of 6.2% exists for Hershey Co/The, based on a current level of $92.68 and analysts' average consensus price target of $98.39. The stock should run into initial resistance at its 50-day moving average (MA) of $92.87 and subsequent resistance at its 200-day MA of $103.21.

SmarTrend recommended that its subscribers protect gains by selling shares of Hershey Co/The on March 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $97.24. Since that call, shares of Hershey Co/The have fallen 3.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle hershey co/the

Ticker(s): HSY