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Possible Bearish Inside Day Candle Pattern Detected for Pvh Corp (NYSE:PVH)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Pvh Corp (NYSE:PVH) based on the price action in the company's shares. Yesterday's price range of $100.28 and $100.62 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 Pvh Corp 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, Pvh Corp share prices have been bracketed by a low of $67.41 and a high of $134.24 and closed yesterday at $99.37, 47% above that low price. The 200-day and 50-day moving averages have moved 0.27% lower and 0.27% higher over the past week, respectively.

PVH Corp. designs, sources, manufactures, and markets men's, women's, and children's apparel and footwear. The Company markets its products at a wholesale level through department store chains and directly to consumers through retail stores. PVH offers attire that includes dress shirts, sportswear, neckwear, and footwear.

Pvh Corp has overhead space with shares priced $99.37, or 41.5% below the average consensus analyst price target of $170.00. The stock should find resistance at its 50-day moving average (MA) of $101.24, as well as support at its 200-day MA of $96.24.

SmarTrend recommended that subscribers consider buying shares of Pvh Corp on October 23rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $91.59. Since that recommendation, shares of Pvh Corp have risen 10.2%. We continue to monitor PVH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle pvh corp

Ticker(s): PVH