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

By David Diaz

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 $39.30 and $40.55 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 (NASDAQ:HAIN) defies analysts with a current price ($40.40) 0.6% above its average consensus price target of $40.17. The stock should find initial resistance at its 50-day moving average (MA) of $40.83 and further resistance at its 200-day MA of $46.74.

Hain Celestial share prices have moved between a 52-week high of $56.99 and a 52-week low of $31.01 and closed yesterday at 30% above that low price at $40.40 per share. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has advanced 1.4%.

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

Keywords: bullish am inside day candle hain celestial

Ticker(s): HAIN