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Possible Bearish Inside Day Candle Pattern Detected for Helen Of Troy (NASDAQ:HELE)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Helen Of Troy (NASDAQ:HELE) based on the price action in the company's shares. Yesterday's price range of $162.38 and $166.78 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 Helen Of Troy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Helen of Troy Limited designs, produces, and markets brand-name hair dryers, curling irons, hair setters, women's shavers, brushes, combs, hair accessories, mirrors, and comfort products. The Company's products are sold through mass merchandisers, drug chains, warehouse clubs, and grocery stores.

Over the past year, Helen Of Troy has traded in a range of $104.02 to $198.59 and closed yesterday at $165.68, 59% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 1.1%.

Based on a current price of $165.68, Helen Of Troy is currently 35.0% above its average consensus analyst price target of $107.75. Helen Of Troy shares have support at the 200-day moving average (MA) of $158.27 and additional support at the 50-day MA of $143.37.

SmarTrend is tracking the current trend status for Helen Of Troy and will alert subscribers who have HELE in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle helen of troy

Ticker(s): HELE