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

By David Diaz

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 $146.77 and $146.77 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.

Hershey Co/The (NYSE:HSY) defies analysts with a current price ($146.77) 33.0% above its average consensus price target of $98.39. The stock should discover initial support at its 50-day moving average (MA) of $134.56 and subsequent support at its 200-day MA of $115.77.

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.

In the past 52 weeks, shares of Hershey Co/The have traded between a low of $90.52 and a high of $147.59 and are now at $146.77, which is 62% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of Hershey Co/The on July 6th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $95.34. Since that recommendation, shares of Hershey Co/The have risen 54.7%. We continue to monitor HSY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle hershey co/the

Ticker(s): HSY