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Possible Bearish Inside Day Candle Pattern Detected for Hexcel Corp (NYSE:HXL)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hexcel Corp (NYSE:HXL) based on the price action in the company's shares. Yesterday's price range of $79.38 and $80.28 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 Hexcel Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Hexcel Corporation develops, manufactures, and markets reinforcement products, composite materials, and engineered products. The Company's products are used in the commercial aerospace, space and defense, electronics, general industrial, and recreation markets for a variety of end products. Hexcel operates around the world.

In the past 52 weeks, shares of Hexcel Corp have traded between a low of $53.50 and a high of $87.00 and closed yesterday at $80.23, which is 50% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.

Hexcel Corp (NYSE:HXL) is currently priced 9.6% above its average consensus analyst price target of $72.54. The stock should find initial support at its 50-day moving average (MA) of $78.25 and further support at its 200-day MA of $75.99.

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

Keywords: bearish am inside day candle hexcel corp

Ticker(s): HXL