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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hexcel (NYSE:HXL) based on the price action in the company's shares. Yesterday's price range of $44.53 and $45.01 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 may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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.

Hexcel has overhead space with shares priced $44.57, or 14.7% below the average consensus analyst price target of $52.27. The stock should hit resistance at its 200-day moving average (MA) of $45.50, as well as support at its 50-day MA of $44.01.

In the past 52 weeks, shares of Hexcel have traded between a low of $37.54 and a high of $54.72 and closed yesterday at $44.57, which is 19% above that low price. The 200-day and 50-day moving averages have moved 0.27% lower and 0.57% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Hexcel 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

Ticker(s): HXL