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Possible Bearish Inside Day Candle Pattern Detected for Harsco Corp (NYSE:HSC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Harsco Corp (NYSE:HSC) based on the price action in the company's shares. Yesterday's price range of $9.10 and $9.76 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 Harsco Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Harsco Corporation is an industrial services and engineered products company. The Company offers industrial mill services, gas control, and containment products, scaffolding services, and railway maintenance. Harsco is also involved in other lines of business including process equipment, industrial grating and bridge decking, pipe fittings, slag abrasives, and roofing granules.

In the past 52 weeks, shares of Harsco Corp have traded between a low of $4.19 and a high of $27.97 and closed yesterday at $9.02, which is 115% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 1.8%.

Harsco Corp (NYSE:HSC) has potential upside of 199.3% based on a current price of $9.02 and analysts' consensus price target of $27.00. The stock should find resistance at its 200-day moving average (MA) of $16.64, as well as support at its 50-day MA of $7.97.

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

Keywords: bearish am inside day candle harsco corp

Ticker(s): HSC