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Possible Bullish Inside Day Candle Pattern Detected for Hill-Rom Holdings (NYSE:HRC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hill-Rom Holdings (NYSE:HRC) based on the price action in the company's shares. Today's price range of $47.19 and $47.69 is within yesterday'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 Hill-Rom Holdings may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Hill-Rom Holdings share prices have been bracketed by a low of $42.99 and a high of $58.73 and are now at $47.33, 10% 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 advanced 0.3%.

Hill-Rom Holdings has overhead space with shares priced $47.33, or 23.2% below the average consensus analyst price target of $61.67. The stock should find initial resistance at its 50-day moving average (MA) of $49.90 and further resistance at its 200-day MA of $50.73.

Hill-Rom Holdings, Inc. manufactures equipment for the healthcare industry, and provides wound care and pulmonary/trauma management services. The Company produces hospital beds, mattresses, stretchers, furniture and hospital information technology systems, and offers wound, circulatory and pulmonary therapies.

SmarTrend recommended that its subscribers protect gains by selling shares of Hill-Rom Holdings on April 29th, 2016 by issuing a Downtrend alert when the shares were trading at $49.26. Since that call, shares of Hill-Rom Holdings have fallen 4.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle hill-rom holdings

Ticker(s): HRC