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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. Today's price range of $92.26 and $93.25 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 Pvh Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Pvh Corp share prices have moved between a 52-week high of $164.01 and a 52-week low of $82.51 and are now trading 13% above that low price at $93.25 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 2.7%.

Potential upside of 82.3% exists for Pvh Corp, based on a current level of $93.25 and analysts' average consensus price target of $170.00. Pvh Corp shares should first meet resistance at the 50-day moving average (MA) of $110.52 and find additional resistance at the 200-day MA of $114.74.

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.

SmarTrend recommended that its subscribers protect gains by selling shares of Pvh Corp on May 9th, 2019 by issuing a Downtrend alert when the shares were trading at $119.96. Since that call, shares of Pvh Corp have fallen 22.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle pvh corp

Ticker(s): PVH