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Possible Bearish Inside Day Candle Pattern Detected for Nmi Holdings I-A (NASDAQ:NMIH)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Nmi Holdings I-A (NASDAQ:NMIH) based on the price action in the company's shares. Yesterday's price range of $13.50 and $14.15 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 Nmi Holdings I-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

NMI Holdings, Inc. was created to build a private mortgage insurer delivering high quality customer service and strong investor results. The Company intends to offer mortgage insurance on a national basis after receipt of the requisite approval from Fannie Mae or Freddie Mac.

Potential upside of 55.3% exists for Nmi Holdings I-A, based on a current level of $13.52 and analysts' average consensus price target of $21.00. Nmi Holdings I-A shares should first meet resistance at the 50-day moving average (MA) of $16.31 and find additional resistance at the 200-day MA of $26.59.

In the past 52 weeks, shares of Nmi Holdings I-A have traded between a low of $8.06 and a high of $35.79 and closed yesterday at $13.52, which is 68% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 7.4% while the 200-day MA has slid 1.1%.

SmarTrend is tracking the current trend status for Nmi Holdings I-A and will alert subscribers who have NMIH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle nmi holdings i-a

Ticker(s): NMIH