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Possible Bearish Inside Day Candle Pattern Detected for Burlington Store (NYSE:BURL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Burlington Store (NYSE:BURL) based on the price action in the company's shares. Today's price range of $174.34 and $176.25 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 Burlington Store may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Burlington Stores, Inc. owns and operates clothing retail stores. The Company offers, through its stores and internet sites, men's, women's, and children's apparel. Burlington Holding operates within the United States and Puerto Rico.

Based on a current price of $175.69, Burlington Store is currently 16.2% above its average consensus analyst price target of $147.21. Burlington Store shares have support at the 50-day moving average (MA) of $174.84 and additional support at the 200-day MA of $164.91.

In the past 52 weeks, shares of Burlington Store have traded between a low of $136.30 and a high of $184.81 and are now at $175.69, which is 29% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

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

Keywords: bearish inside day candle burlington store

Ticker(s): BURL