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Possible Bearish Inside Day Candle Pattern Detected for Hill-Rom Holding (NYSE:HRC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hill-Rom Holding (NYSE:HRC) based on the price action in the company's shares. Yesterday's price range of $108.68 and $109.61 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 Hill-Rom Holding may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Hill-Rom Holdings, Inc. manufactures equipment for the healthcare industry and provides wound care, pulmonary, and trauma management services. The Company produces hospital beds, mattresses, stretchers, furniture, and hospital information technology systems, as well as offers wound, circulatory, and pulmonary therapies.

Hill-Rom Holding (NYSE:HRC) defies analysts with a current price ($109.18) 13.3% above its average consensus price target of $94.67. The stock should discover initial support at its 50-day moving average (MA) of $103.86 and subsequent support at its 200-day MA of $103.64.

In the past 52 weeks, shares of Hill-Rom Holding have traded between a low of $81.85 and a high of $110.10 and closed yesterday at $109.18, which is 33% above that low price. The 200-day and 50-day moving averages have moved 0.10% higher and 0.29% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Hill-Rom Holding and will alert subscribers who have HRC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle hill-rom holding

Ticker(s): HRC