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Possible Bullish Inside Day Candle Pattern Detected for Gnc Holdings Inc (NYSE:GNC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Gnc Holdings Inc (NYSE:GNC) based on the price action in the company's shares. Yesterday's price range of $2.25 and $2.34 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 Gnc 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.

In the past 52 weeks, Gnc Holdings Inc share prices have been bracketed by a low of $2.14 and a high of $4.65 and closed yesterday at $2.24, 5% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1%.

GNC Holdings, Inc. operates a chain of health and wellness stores throughout the United States and internationally. The Company is a global specialty retailer of health and wellness products including vitamins, minerals and herbal supplements (""VMHS"") products, sports nutrition products, and diet products.

Gnc Holdings Inc (NYSE:GNC) has potential upside of 22.8% based on a current price of $2.24 and analysts' consensus price target of $2.75. Gnc Holdings Inc shares should first meet resistance at the 50-day moving average (MA) of $2.69 and find additional resistance at the 200-day MA of $3.11.

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

Keywords: bullish am inside day candle gnc holdings inc

Ticker(s): GNC