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Possible Bullish Inside Day Candle Pattern Detected for Hain Celestial (NASDAQ:HAIN)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hain Celestial (NASDAQ:HAIN) based on the price action in the company's shares. Yesterday's price range of $25.92 and $26.35 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 Hain Celestial may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

The Hain Celestial Group, Inc. is a natural and organic beverage, snack, specialty food, and personal care products company. The Company's product line include grocery store foods such as organic cookies, cooking oils, sugar free products, kosher foods, snacks, and frozen foods, as well as organic skin, hair, and body products. Hain Celestial sells and markets in North America and Europe.

Hain Celestial has overhead space with shares priced $25.95, or 23.0% below the average consensus analyst price target of $33.69. The stock should find initial resistance at its 50-day moving average (MA) of $30.28 and further resistance at its 200-day MA of $36.99.

In the past 52 weeks, Hain Celestial share prices have been bracketed by a low of $25.80 and a high of $56.99 and closed yesterday at $25.95, 1% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.8% while the 200-day MA has slid 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Hain Celestial on January 10th, 2018 by issuing a Downtrend alert when the shares were trading at $39.76. Since that call, shares of Hain Celestial have fallen 34.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle hain celestial

Ticker(s): HAIN