• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Hershey Co/The (NYSE:HSY)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hershey Co/The (NYSE:HSY) based on the price action in the company's shares. Yesterday's price range of $142.50 and $143.55 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. Traders and investors interested in shares of Hershey Co/The may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Hershey Co/The have traded between a low of $109.88 and a high of $162.20 and closed yesterday at $143.28, which is 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has remained constant.

The Hershey Company manufactures chocolate and sugar confectionery products. The Company's principal products includes chocolate and sugar confectionery products, gum and mint refreshment products, and pantry items, such as baking ingredients, toppings, and beverages.

Hershey Co/The (NYSE:HSY) defies analysts with a current price ($143.28) 31.3% above its average consensus price target of $98.39. The stock should find initial resistance at its 50-day moving average (MA) of $143.83 and further resistance at its 200-day MA of $148.69.

SmarTrend is tracking the current trend status for Hershey Co/The and will alert subscribers who have HSY in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle hershey co/the

Ticker(s): HSY