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Possible Bullish Inside Day Candle Pattern Detected for Healthequity Inc (NASDAQ:HQY)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Healthequity Inc (NASDAQ:HQY) based on the price action in the company's shares. Yesterday's price range of $67.89 and $69.11 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 Healthequity Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

HealthEquity, Inc. provides technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions. Consumers can access their tax-advantaged healthcare savings, compare treatment options and pricing, evaluate and pay healthcare bills, receive personalized benefit and clinical information, and earn wellness incentives.

Based on a current price of $69.11, Healthequity Inc is currently 1.9% above its average consensus analyst price target of $67.78. Healthequity Inc shares should first meet resistance at the 50-day moving average (MA) of $72.50 and find additional resistance at the 200-day MA of $77.51.

In the past 52 weeks, Healthequity Inc share prices have been bracketed by a low of $50.29 and a high of $101.58 and closed yesterday at $69.11, 37% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.3%.

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

Keywords: bullish am inside day candle healthequity inc

Ticker(s): HQY