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

By Nick Russo

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. Yesterday's price range of $36.45 and $36.95 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 Hillenbrand may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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

Over the past year, Hillenbrand has traded in a range of $24.12 to $39.00 and closed yesterday at $36.75, 52% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

There is potential upside of 14.3% for shares of Hillenbrand based on a current price of $36.75 and an average consensus analyst price target of $42.00. Hillenbrand shares have support at the 50-day moving average (MA) of $29.34 and additional support at the 200-day MA of $28.35.

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 am inside day candle hillenbrand

Ticker(s): HI