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Possible Bullish Inside Day Candle Pattern Detected for Hd Supply Holdin (NASDAQ:HDS)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hd Supply Holdin (NASDAQ:HDS) based on the price action in the company's shares. Yesterday's price range of $39.45 and $40.02 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 Hd Supply Holdin 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 10.9% for shares of Hd Supply Holdin based on a current price of $40.02 and an average consensus analyst price target of $44.36. The stock should find initial resistance at its 200-day moving average (MA) of $41.41 and further resistance at its 50-day MA of $43.66.

HD Supply Holdings, Inc. is a holding company. The Company, through its subsidiaries, operates as an industrial distributor of products specializing in maintenance, repair & operations, infrastructure & power, and specialty construction.

In the past 52 weeks, Hd Supply Holdin share prices have been bracketed by a low of $35.35 and a high of $47.13 and closed yesterday at $40.02, 13% above that low price. The 200-day and 50-day moving averages have moved 0.19% lower and 0.38% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Hd Supply Holdin on May 9th, 2019 by issuing a Downtrend alert when the shares were trading at $43.94. Since that call, shares of Hd Supply Holdin have fallen 10.3%. 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 hd supply holdin

Ticker(s): HDS