• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Hawaiian Elec (NYSE:HE)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hawaiian Elec (NYSE:HE) based on the price action in the company's shares. Yesterday's price range of $34.00 and $34.31 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 Hawaiian Elec may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Based on a current price of $34.18, Hawaiian Elec is currently 4.9% above its average consensus analyst price target of $32.50. The stock should discover initial support at its 50-day moving average (MA) of $31.77 and subsequent support at its 200-day MA of $29.65.

Hawaiian Electric Industries, Inc. is a diversified holding company that delivers a variety of services to the people of Hawaii. The Company's subsidiaries offer electric utilities, savings banks, and other businesses, primarily in the state of Hawaii.

Hawaiian Elec share prices have moved between a 52-week high of $38.72 and a 52-week low of $28.30 and closed yesterday at 21% above that low price at $34.18 per share. The 200-day and 50-day moving averages have moved 0.15% higher and 0.74% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Hawaiian Elec and will alert subscribers who have HE in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle hawaiian elec

Ticker(s): HE