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Possible Bullish Inside Day Candle Pattern Detected for Hms Holdings Cor (NASDAQ:HMSY)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hms Holdings Cor (NASDAQ:HMSY) based on the price action in the company's shares. Yesterday's price range of $29.10 and $29.89 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 Hms Holdings Cor may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Hms Holdings Cor share prices have moved between a 52-week high of $40.67 and a 52-week low of $24.46 and closed yesterday at 21% above that low price at $29.60 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has remained constant.

Hms Holdings Cor (NASDAQ:HMSY) defies analysts with a current price ($29.60) 29.7% above its average consensus price target of $20.80. Hms Holdings Cor shares should first meet resistance at the 50-day moving average (MA) of $31.89 and find additional resistance at the 200-day MA of $32.71.

HMS Holdings Corporation operates as a holding company. The Company, through its subsidiaries, provides proprietary information management and data processing products and services. HMS Holdings markets its products to hospitals and health care providers, government health service agencies, payers and purchasers of health care, and companies serving the health care industry.

SmarTrend is tracking the current trend status for Hms Holdings Cor and will alert subscribers who have HMSY in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle hms holdings cor

Ticker(s): HMSY