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Possible Bearish Inside Day Candle Pattern Detected for Healthcare Servs (NASDAQ:HCSG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Healthcare Servs (NASDAQ:HCSG) based on the price action in the company's shares. Yesterday's price range of $24.86 and $25.46 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 Healthcare Servs may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Healthcare Servs (NASDAQ:HCSG) has potential upside of 96.3% based on a current price of $25.13 and analysts' consensus price target of $49.33. Healthcare Servs shares have support at the 200-day moving average (MA) of $24.74 and additional support at the 50-day MA of $23.65.

Over the past year, Healthcare Servs has traded in a range of $15.80 to $34.87 and closed yesterday at $25.13, 59% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has slid 0.3%.

Healthcare Services Group, Inc. provides housekeeping, laundry, linen, facility maintenance, and food services. The Company offers its services to the health care industry, including nursing homes, retirement complexes, rehabilitation centers, and hospitals. Healthcare Services operates in the United States and Canada.

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

Keywords: bearish am inside day candle healthcare servs

Ticker(s): HCSG