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

By Shiri Gupta

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 $4.09 and $4.28 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.

In the past 52 weeks, DHT Maritime share prices have been bracketed by a low of $4.04 and a high of $8.99 and are now at $4.22, 4% above that low price. The 200-day and 50-day moving averages have moved 0.81% lower and 0.37% lower over the past week, respectively.

DHT Maritime has overhead space with shares priced $4.22, or 61.9% below the average consensus analyst price target of $11.08. DHT Maritime shares should first meet resistance at the 50-day moving average (MA) of $5.85 and find additional resistance at the 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.

SmarTrend is monitoring the recent change of momentum in DHT Maritime. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of DHT Maritime in search of a potential trend change.

Keywords: bullish inside day candle dht maritime

Ticker(s): DHT