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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. Yesterday's price range of $4.09 and $4.28 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 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, shares of DHT Maritime have traded between a low of $4.04 and a high of $8.99 and closed yesterday at $4.18, which is 3% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.4%.

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

DHT Maritime has overhead space with shares priced $4.18, or 62.3% below the average consensus analyst price target of $11.08. 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.

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 am inside day candle dht maritime

Ticker(s): DHT