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Possible Bearish Inside Day Candle Pattern Detected for Hms Holdings Cor (NASDAQ:HMSY)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hms Holdings Cor (NASDAQ:HMSY) based on the price action in the company's shares. Yesterday's price range of $32.59 and $32.59 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 Hms Holdings Cor may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Hms Holdings Cor have traded between a low of $16.29 and a high of $38.15 and closed yesterday at $32.62, which is 100% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.9%.

HMS Holdings Corporation operates as a holding company. The Company, through its subsidiaries, provides proprietary information management and data processing products and services. HMS Holdings markets its products to hospitals and health care providers, government health service agencies, payers and purchasers of health care, and companies serving the health care industry.

Based on a current price of $32.62, Hms Holdings Cor is currently 36.2% above its average consensus analyst price target of $20.80. The stock should discover initial support at its 50-day moving average (MA) of $31.08 and subsequent support at its 200-day MA of $29.85.

SmarTrend recommended that subscribers consider buying shares of Hms Holdings Cor on February 12th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.58. Since that recommendation, shares of Hms Holdings Cor have risen 3.5%. We continue to monitor HMSY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle hms holdings cor

Ticker(s): HMSY