Bears Appeared on HEALTHSOUTH

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Bears Appeared on HEALTHSOUTH

Published on Friday, 12 October 2012 04:57 Written by TradersHuddle Wire

hls New York, October 12th (TradersHuddle.com) - Shares of HEALTHSOUTH Corporation (NYSE:HLS) ended the trading session lower by $0.05 or -0.22% from its previous close. HEALTHSOUTH's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

HEALTHSOUTH Corporation (NYSE:HLS) provides inpatient rehabilitative healthcare services. The Company operates inpatient rehabilitation hospitals, long-term acute care hospitals, outpatient and rehabilitation satellites, and home health agencies.

HEALTHSOUTH's current stock range is determined by calculated support defined at $22.02 and by the resistance level at $24.99, which should be used by traders planning their next move.

If traders want to establish a position in HEALTHSOUTH, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor HEALTHSOUTH for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:

Note - Automated Content Created By TradersHuddle's Technical Scanner

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