SmarTrend's Candlestick Scanner Detects Bearish Inside Day Pattern for Hawaiian Electric Industries (HE)
SmarTrend's candlestick pattern scanner detected a bearish inside day candle pattern for shares of Hawaiian Electric Industries (NYSE: HE). Friday's price range of 21.62 and 21.92 is within the previous day's price range.
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 Hawaiian Electric Industries may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
SmarTrend issued an Uptrend alert on shares of Hawaiian Electric Industries on February 22, 2010 at $20.70 per share (5.7% return since that call). This bearish candle pattern may point to a reversal of the previously called Uptrend.
Write to Chip Brian at cbrian@tradethetrend.com
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