Possible Bullish Inside Day Candle Pattern Detected for Hain Celestial (NASDAQ:HAIN)
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. Today's price range of $47.30 and $47.73 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 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.
There is potential upside of 29.1% for shares of Hain Celestial based on a current price of $47.61 and an average consensus analyst price target of $61.44. The stock should discover initial support at its 200-day moving average (MA) of $46.74 and subsequent support at its 50-day MA of $40.83.
Over the past year, Hain Celestial has traded in a range of $33.12 to $70.65 and is now at $47.61, 44% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 1.1%.
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.
SmarTrend recommended that subscribers consider buying shares of Hain Celestial on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.53. Since that recommendation, shares of Hain Celestial have risen 22.6%. We continue to monitor HAIN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: bullish inside day candle hain celestial