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Possible Bearish Inside Day Candle Pattern Detected for H&E Equipment Se (NASDAQ:HEES)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in H&E Equipment Se (NASDAQ:HEES) based on the price action in the company's shares. Yesterday's price range of $13.20 and $15.10 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 H&E Equipment Se may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

H&E Equipment Services, Inc. is an integrated equipment services company focused on heavy construction and industrial equipment. The Company rents, sells, and provides parts and service support for hi-lift or aerial platform equipment, cranes, earthmoving equipment, and industrial lift trucks.

There is potential upside of 219.2% for shares of H&E Equipment Se based on a current price of $13.68 and an average consensus analyst price target of $43.67. H&E Equipment Se shares should first meet resistance at the 50-day moving average (MA) of $23.12 and find additional resistance at the 200-day MA of $28.02.

In the past 52 weeks, shares of H&E Equipment Se have traded between a low of $9.12 and a high of $37.85 and closed yesterday at $13.68, which is 50% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 7.2% while the 200-day MA has slid 1.1%.

SmarTrend is monitoring the recent change of momentum in H&E Equipment Se. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of H&E Equipment Se in search of a potential trend change.

Keywords: bearish am inside day candle h&e equipment se

Ticker(s): HEES