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Possible Bullish Inside Day Candle Pattern Detected for Hexcel Corp (NYSE:HXL)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hexcel Corp (NYSE:HXL) based on the price action in the company's shares. Yesterday's price range of $76.23 and $76.92 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 Hexcel Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Hexcel Corp (NYSE:HXL) is currently priced 5.4% above its average consensus analyst price target of $72.54. The stock should find resistance at its 50-day moving average (MA) of $81.13, as well as support at its 200-day MA of $73.64.

Hexcel Corporation develops, manufactures, and markets reinforcement products, composite materials, and engineered products. The Company's products are used in the commercial aerospace, space and defense, electronics, general industrial, and recreation markets for a variety of end products. Hexcel operates around the world.

Hexcel Corp share prices have moved between a 52-week high of $87.00 and a 52-week low of $53.50 and closed yesterday at 43% above that low price at $76.67 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.5%.

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

Keywords: bullish am inside day candle hexcel corp

Ticker(s): HXL