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Possible Bearish Inside Day Candle Pattern Detected for Usana Health Sci (NYSE:USNA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Usana Health Sci (NYSE:USNA) based on the price action in the company's shares. Yesterday's price range of $57.39 and $61.25 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 Usana Health Sci may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 60.1% exists for Usana Health Sci, based on a current level of $59.35 and analysts' average consensus price target of $95.00. The stock should run into initial resistance at its 50-day moving average (MA) of $68.00 and subsequent resistance at its 200-day MA of $70.58.

Over the past year, Usana Health Sci has traded in a range of $43.01 to $93.43 and closed yesterday at $59.35, 38% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.3% while the 200-day MA has slid 0.6%.

USANA Health Sciences, Inc. develops, manufactures, and markets nutritionals, personal care, and weight management products. The Company's products are sold directly to preferred customers and distributors throughout the United States, Canada, Australia, New Zealand, the United Kingdom, and Hong Kong.

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

Keywords: bearish am inside day candle usana health sci

Ticker(s): USNA