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Possible Bearish Inside Day Candle Pattern Detected for Prestige Brands (NYSE:PBH)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Prestige Brands (NYSE:PBH) based on the price action in the company's shares. Yesterday's price range of $35.31 and $36.59 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 Prestige Brands may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 18.9% for shares of Prestige Brands based on a current price of $35.32 and an average consensus analyst price target of $42.00. Prestige Brands shares have support at the 50-day moving average (MA) of $32.34 and additional support at the 200-day MA of $30.70.

In the past 52 weeks, Prestige Brands share prices have been bracketed by a low of $26.25 and a high of $41.76 and closed yesterday at $35.32, 35% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.3%.

Prestige Consumer Healthcare Inc., together with its subsidiaries, develops, manufactures, markets, distributes, and sells over-the-counter (OTC) healthcare products in North America, Australia, and internationally.

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

Keywords: bearish am inside day candle prestige brands

Ticker(s): PBH