• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Hillenbrand (NYSE:HI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hillenbrand (NYSE:HI) based on the price action in the company's shares. Yesterday's price range of $31.95 and $32.18 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 Hillenbrand may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Hillenbrand share prices have moved between a 52-week high of $33.17 and a 52-week low of $24.12 and closed yesterday at 33% above that low price at $32.06 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Hillenbrand (NYSE:HI) has potential upside of 15.4% based on a current price of $32.06 and analysts' consensus price target of $37.00. The stock should discover initial support at its 50-day moving average (MA) of $29.34 and subsequent support at its 200-day MA of $28.35.

Hillenbrand, Inc. manufactures and supplies burial caskets, cremation products, and related services to licensed funeral homes.

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

Keywords: bullish am inside day candle hillenbrand

Ticker(s): HI