HSIC closes within prior day's range
Henry Schein (HSIC) Technical Analysis Report for Oct 12, 2018
HSIC finished the week -5.08% lower at 83.95 after gaining $0.41 (0.49%) today, significantly underperforming the Nasdaq 100 (2.77%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range.
Daily Candlestick Chart (HSIC as at Oct 12, 2018):
Friday's trading range has been $1.94 (2.3%), that's slightly above the last trading month's daily average range of $1.87. Weekly volatility is also higher, being above the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for HSIC.
One bearish candlestick pattern matches today's price action, the Bearish Spinning Top. The last time a Bearish Spinning Top showed up on September 6th, HSIC lost -0.45% on the following trading day.
While the market is currently in a short-term downtrend, this might just be a correction, as both the medium and long-term trends are still bullish.