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Possible Bullish Inside Day Candle Pattern Detected for DHT Maritime (NYSE:DHT)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in DHT Maritime (NYSE:DHT) based on the price action in the company's shares. Today's price range of $4.26 and $4.32 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. Traders and investors interested in shares of DHT Maritime 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 Maritime (NYSE:DHT) has potential upside of 22.6% based on a current price of $4.32 and analysts' consensus price target of $5.30. The stock should run into initial resistance at its 50-day moving average (MA) of $5.85 and subsequent resistance at its 200-day MA of $6.94.

DHT Maritime, Inc. offers maritime shipping services. The Company owns and operates very large crude carriers and Aframax tankers.

In the past 52 weeks, DHT Maritime share prices have been bracketed by a low of $3.29 and a high of $8.99 and are now at $4.32, 31% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.4%.

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

Keywords: bullish inside day candle dht maritime

Ticker(s): DHT