Possible Bearish Inside Day Candle Pattern Detected for Hologic (NASDAQ:HOLX)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hologic (NASDAQ:HOLX) based on the price action in the company's shares. Today's price range of $34.49 and $34.91 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 Hologic 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 Hologic have traded between a low of $29.71 and a high of $43.00 and are now at $34.57, which is 16% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.
Hologic, Inc. develops, manufactures, and markets x-ray systems. The Company makes x-ray bone densitometers that measure the precise bone density for use in the diagnosing of metabolic bone diseases such as osteoporosis.
Hologic has overhead space with shares priced $34.57, or 17.2% below the average consensus analyst price target of $41.75. Hologic shares should first meet resistance at the 50-day moving average (MA) of $35.23 and find additional resistance at the 200-day MA of $37.56.
SmarTrend is tracking the current trend status for Hologic and will alert subscribers who have HOLX in their portfolio or watchlist when shares have changed trend direction.
Keywords: bearish inside day candle Hologic