• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Hexcel Corp (NYSE:HXL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hexcel Corp (NYSE:HXL) based on the price action in the company's shares. Yesterday's price range of $75.24 and $76.24 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 Hexcel Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $75.84, Hexcel Corp is currently 4.4% above its average consensus analyst price target of $72.54. The stock should find resistance at its 200-day moving average (MA) of $77.61, as well as support at its 50-day MA of $75.11.

Hexcel Corporation develops, manufactures, and markets reinforcement products, composite materials, and engineered products. The Company's products are used in the commercial aerospace, space and defense, electronics, general industrial, and recreation markets for a variety of end products. Hexcel operates around the world.

Over the past year, Hexcel Corp has traded in a range of $65.61 to $87.00 and closed yesterday at $75.84, 16% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

SmarTrend is tracking the current trend status for Hexcel Corp and will alert subscribers who have HXL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle hexcel corp

Ticker(s): HXL