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Possible Bullish Inside Day Candle Pattern Detected for Henry Schein Inc (NASDAQ:HSIC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Henry Schein Inc (NASDAQ:HSIC) based on the price action in the company's shares. Yesterday's price range of $63.57 and $64.90 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 Henry Schein 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.

Henry Schein, Inc. distributes healthcare products and services including practice management software to office-based healthcare practitioners. The Company has operations in North America and other countries. Henry Schein's operations include direct marketing, telesales, and field sales.

Henry Schein Inc (NASDAQ:HSIC) has potential upside of 21.8% based on a current price of $63.25 and analysts' consensus price target of $77.06. The stock should find initial resistance at its 200-day moving average (MA) of $66.64 and further resistance at its 50-day MA of $68.68.

In the past 52 weeks, Henry Schein Inc share prices have been bracketed by a low of $56.58 and a high of $73.99 and closed yesterday at $63.25, 12% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

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

Keywords: bullish am inside day candle henry schein inc

Ticker(s): HSIC