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

By James Quinn

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 $269.81 and $270.24 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 Ingal (NYSE:HII) is currently priced 3.7% above its average consensus analyst price target of $258.45. Huntington Ingal shares have support at the 50-day moving average (MA) of $262.21 and additional support at the 200-day MA of $230.23.

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.

Huntington Ingal share prices have moved between a 52-week high of $279.71 and a 52-week low of $196.26 and closed yesterday at 37% above that low price at $268.36 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.4%.

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

Keywords: bearish am inside day candle huntington ingal

Ticker(s): HII