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Possible Bearish Inside Day Candle Pattern Detected for Hill-Rom Holding (NYSE:HRC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hill-Rom Holding (NYSE:HRC) based on the price action in the company's shares. Yesterday's price range of $96.07 and $96.89 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 Hill-Rom Holding may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Hill-Rom Holding has traded in a range of $81.82 to $108.68 and closed yesterday at $96.57, 18% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has remained constant.

Hill-Rom Holdings, Inc. manufactures equipment for the healthcare industry and provides wound care, pulmonary, and trauma management services. The Company produces hospital beds, mattresses, stretchers, furniture, and hospital information technology systems, as well as offers wound, circulatory, and pulmonary therapies.

Based on a current price of $96.57, Hill-Rom Holding is currently 2.0% above its average consensus analyst price target of $94.67. The stock should find resistance at its 50-day moving average (MA) of $101.49, as well as support at its 200-day MA of $96.45.

SmarTrend is tracking the current trend status for Hill-Rom Holding and will alert subscribers who have HRC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle hill-rom holding

Ticker(s): HRC