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Possible Bullish Inside Day Candle Pattern Detected for Huntington Ingal (NYSE:HII)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Huntington Ingal (NYSE:HII) based on the price action in the company's shares. Yesterday's price range of $222.87 and $225.59 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 Huntington Ingal may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Huntington Ingalls Industries, Inc. (HII) designs, builds, and maintains nuclear and non-nuclear ships for the United States Navy and Coast Guard. The Company also provides after-market services for military ships worldwide. HII consists of two primary business divisions, Newport News Shipbuilding and Ingalls Shipbuilding.

Huntington Ingal share prices have moved between a 52-week high of $279.71 and a 52-week low of $196.26 and closed yesterday at 12% above that low price at $219.76 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

Potential upside of 17.6% exists for Huntington Ingal, based on a current level of $219.76 and analysts' average consensus price target of $258.45. The stock should find initial resistance at its 200-day moving average (MA) of $231.58 and further resistance at its 50-day MA of $259.68.

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

Keywords: bullish am inside day candle huntington ingal

Ticker(s): HII