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Possible Bearish Inside Day Candle Pattern Detected for The Buckle Inc (NYSE:BKE)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in The Buckle Inc (NYSE:BKE) based on the price action in the company's shares. Yesterday's price range of $15.59 and $15.81 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. Owners of The Buckle Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

The Buckle Inc has overhead space with shares priced $15.68, or 12.9% below the average consensus analyst price target of $18.00. The stock should run into initial resistance at its 50-day moving average (MA) of $17.94 and subsequent resistance at its 200-day MA of $19.73.

Over the past year, The Buckle Inc has traded in a range of $14.81 to $29.65 and closed yesterday at $15.68, 6% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 0.7%.

The Buckle, Inc. retails casual apparel for young men and women. The Company offers casual apparel, footwear, and accessories, including denims, tops, sportswear, outerwear, and shoes. The Buckle operates throughout the United States.

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

Keywords: bearish am inside day candle the buckle inc

Ticker(s): BKE