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Possible Bearish Inside Day Candle Pattern Detected for Huntington Ingal (NYSE:HII)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Huntington Ingal (NYSE:HII) based on the price action in the company's shares. Yesterday's price range of $184.61 and $192.76 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 Huntington Ingal may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Huntington Ingalls Industries, Inc. (HII) designs, builds, and maintains nuclear and non-nuclear ships for the United States Navy and Coast Guard. The Company also provides after-market services for military ships worldwide. HII consists of two primary business divisions, Newport News Shipbuilding and Ingalls Shipbuilding.

In the past 52 weeks, shares of Huntington Ingal have traded between a low of $147.14 and a high of $279.71 and closed yesterday at $185.59, which is 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.1% while the 200-day MA has slid 0.4%.

Huntington Ingal has overhead space with shares priced $185.59, or 28.2% below the average consensus analyst price target of $258.45. The stock should run into initial resistance at its 50-day moving average (MA) of $227.89 and subsequent resistance at its 200-day MA of $229.22.

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

Keywords: bearish am inside day candle huntington ingal

Ticker(s): HII