• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Amer Eagle Outf (NYSE:AEO)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Amer Eagle Outf (NYSE:AEO) based on the price action in the company's shares. Today's price range of $17.73 and $18.18 is within yesterday'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. Owners of Amer Eagle Outf may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Amer Eagle Outf share prices have been bracketed by a low of $16.31 and a high of $29.88 and are now at $17.81, 9% above that low price. The 200-day and 50-day moving averages have moved 0.47% lower and 2.07% lower over the past week, respectively.

American Eagle Outfitters, Inc. retails men's and women's casual apparel, footwear, outerwear, and accessories. The Company's products include jeans, khakis, t-shirts, and other similar apparel. American Eagle operates in the United States.

Potential upside of 19.8% exists for Amer Eagle Outf, based on a current level of $17.81 and analysts' average consensus price target of $21.33. The stock should run into initial resistance at its 50-day moving average (MA) of $18.39 and subsequent resistance at its 200-day MA of $20.39.

SmarTrend recommended that its subscribers protect gains by selling shares of Amer Eagle Outf on May 10th, 2019 by issuing a Downtrend alert when the shares were trading at $21.76. Since that call, shares of Amer Eagle Outf have fallen 15.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle amer eagle outf

Ticker(s): AEO