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Possible Bearish Inside Day Candle Pattern Detected for Treehouse Foods (NYSE:THS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Treehouse Foods (NYSE:THS) based on the price action in the company's shares. Yesterday's price range of $60.95 and $60.95 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 Treehouse Foods may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

TreeHouse Foods, Inc. is a food manufacturer servicing primarily the retail grocery and foodservice distribution channels. The Company's products include non-dairy powdered coffee creamer; canned soups, salad dressings and sauces, jams and pie fillings, pickles, and related products.

Treehouse Foods share prices have moved between a 52-week high of $61.48 and a 52-week low of $36.43 and closed yesterday at 68% above that low price at $61.04 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.0%.

Treehouse Foods (NYSE:THS) is currently priced 26.7% above its average consensus analyst price target of $44.77. Treehouse Foods shares have support at the 50-day moving average (MA) of $58.76 and additional support at the 200-day MA of $52.60.

SmarTrend recommended that subscribers consider buying shares of Treehouse Foods on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.06. Since that recommendation, shares of Treehouse Foods have risen 13.4%. We continue to monitor THS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle treehouse foods

Ticker(s): THS