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Possible Bearish Inside Day Candle Pattern Detected for Nu Skin Enterp-A (NYSE:NUS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nu Skin Enterp-A (NYSE:NUS) based on the price action in the company's shares. Yesterday's price range of $48.76 and $49.11 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 Nu Skin Enterp-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Nu Skin Enterprises, Inc. develops and distributes anti-aging personal care products and nutritional supplements under the Nu Skin and Pharmanex category brands worldwide.

Over the past year, Nu Skin Enterp-A has traded in a range of $44.36 to $88.68 and closed yesterday at $48.88, 10% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has remained constant.

Nu Skin Enterp-A (NYSE:NUS) has potential upside of 57.9% based on a current price of $48.88 and analysts' consensus price target of $77.17. The stock should find initial resistance at its 50-day moving average (MA) of $51.15 and further resistance at its 200-day MA of $63.79.

SmarTrend is monitoring the recent change of momentum in Nu Skin Enterp-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Nu Skin Enterp-A in search of a potential trend change.

Keywords: bearish am inside day candle nu skin enterp-a

Ticker(s): NUS