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Possible Bearish Inside Day Candle Pattern Detected for Hillenbrand (NYSE:HI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hillenbrand (NYSE:HI) based on the price action in the company's shares. Today's price range of $36.70 and $36.95 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 Hillenbrand may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Hillenbrand has overhead space with shares priced $36.88, or 12.2% below the average consensus analyst price target of $42.00. The stock should discover initial support at its 50-day moving average (MA) of $29.34 and subsequent support at its 200-day MA of $28.35.

Hillenbrand, Inc. manufactures and supplies burial caskets, cremation products, and related services to licensed funeral homes.

Hillenbrand share prices have moved between a 52-week high of $39.00 and a 52-week low of $24.12 and are now trading 53% above that low price at $36.88 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

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

Keywords: bearish inside day candle hillenbrand

Ticker(s): HI