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Possible Bearish Inside Day Candle Pattern Detected for Hologic Inc (NASDAQ:HOLX)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hologic Inc (NASDAQ:HOLX) based on the price action in the company's shares. Yesterday's price range of $47.99 and $48.31 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 Hologic Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Hologic Inc (NASDAQ:HOLX) is currently priced 9.9% above its average consensus analyst price target of $43.44. The stock should discover initial support at its 50-day moving average (MA) of $46.05 and subsequent support at its 200-day MA of $42.04.

In the past 52 weeks, shares of Hologic Inc have traded between a low of $35.10 and a high of $48.44 and closed yesterday at $48.19, which is 37% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.3%.

Hologic, Inc. is a developer, manufacturer, and supplier of premium diagnostic products, medical imaging systems, and surgical products. The Company's core business units focus on diagnostics, breast health, GYN surgical, and skeletal health.

SmarTrend recommended that subscribers consider buying shares of Hologic Inc on December 28th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.66. Since that recommendation, shares of Hologic Inc have risen 19.0%. We continue to monitor HOLX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle hologic inc

Ticker(s): HOLX