Possible Bullish Inside Day Candle Pattern Detected for Nu Skin Enterprises (NYSE:NUS)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Nu Skin Enterprises (NYSE:NUS) based on the price action in the company's shares. Today's price range of $43.13 and $43.64 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 Nu Skin Enterprises may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Nu Skin Enterprises, Inc. is a global direct selling company. The Company distributes premium quality personal care products and nutritional supplements. Nu Skin markets its products in the Americas, Europe, and the Asia Pacific region. The Company provides marketing and distribution of technology-based products through Big Planet, Inc.
In the past 52 weeks, Nu Skin Enterprises share prices have been bracketed by a low of $23.51 and a high of $59.67 and are now at $43.34, 84% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.0% while the 200-day MA has remained constant.
Potential upside of 2.2% exists for Nu Skin Enterprises, based on a current level of $43.34 and analysts' average consensus price target of $44.29. The stock should discover initial support at its 200-day moving average (MA) of $37.47 and subsequent support at its 50-day MA of $36.92.
SmarTrend recommended that subscribers consider buying shares of Nu Skin Enterprises on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.51. Since that recommendation, shares of Nu Skin Enterprises have risen 28.2%. We continue to monitor NUS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: bullish inside day candle nu skin enterprises