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Possible Bearish Inside Day Candle Pattern Detected for Marinemax Inc (NYSE:HZO)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Marinemax Inc (NYSE:HZO) based on the price action in the company's shares. Yesterday's price range of $16.47 and $16.86 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 Marinemax Inc 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 Marinemax Inc have traded between a low of $13.73 and a high of $21.09 and closed yesterday at $16.70, which is 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 0.4%.

MarineMax, Inc. retails recreational boats. The Company sells new and used boats, parts and accessories, as well as offers repair services. MarineMax serves customers throughout the United States.

Potential upside of 61.1% exists for Marinemax Inc, based on a current level of $16.70 and analysts' average consensus price target of $26.90. The stock should find initial support at its 200-day moving average (MA) of $16.57 and further support at its 50-day MA of $16.25.

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

Keywords: bearish am inside day candle marinemax inc

Ticker(s): HZO