• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Greenhill & Co (NYSE:GHL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Greenhill & Co (NYSE:GHL) based on the price action in the company's shares. Yesterday's price range of $10.58 and $11.07 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. Owners of Greenhill & Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Greenhill & Co share prices have been bracketed by a low of $7.28 and a high of $24.59 and closed yesterday at $10.67, 47% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 5.3%.

Greenhill & Co (NYSE:GHL) has potential upside of 88.2% based on a current price of $10.67 and analysts' consensus price target of $20.09. Greenhill & Co shares should first meet resistance at the 50-day moving average (MA) of $10.83 and find additional resistance at the 200-day MA of $14.53.

Greenhill & Co., Inc operates as an independent investment bank. The Company focuses on providing financial advice on mergers, acquisitions, restructuring, financing, and capital raising to corporations, partnerships, institutions, and governments. Greenhill serves customers worldwide.

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

Keywords: bearish am inside day candle Greenhill & Co

Ticker(s): GHL