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Possible Bullish Inside Day Candle Pattern Detected for Dht Holdings Inc (NYSE:DHT)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Dht Holdings Inc (NYSE:DHT) based on the price action in the company's shares. Yesterday's price range of $3.75 and $3.79 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. Traders and investors interested in shares of Dht Holdings Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

DHT Holdings, Inc. is an independent crude oil tanker company. The company provides transportation services to oil companies and trades internationally with a fleet of crude oil tankers in the VLCC, Aframax, and Suezmax segments.

Dht Holdings Inc has overhead space with shares priced $3.77, or 22.2% below the average consensus analyst price target of $4.84. The stock should find initial resistance at its 50-day moving average (MA) of $5.85 and further resistance at its 200-day MA of $6.94.

Dht Holdings Inc share prices have moved between a 52-week high of $5.47 and a 52-week low of $3.27 and closed yesterday at 15% above that low price at $3.77 per share. The 200-day and 50-day moving averages have moved 0.81% lower and 0.37% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Dht Holdings Inc and will alert subscribers who have DHT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle dht holdings inc

Ticker(s): DHT