• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Cracker Barrel (NASDAQ:CBRL)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cracker Barrel (NASDAQ:CBRL) based on the price action in the company's shares. Yesterday's price range of $174.28 and $181.93 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 Cracker Barrel may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $181.13, Cracker Barrel is currently 12.1% above its average consensus analyst price target of $159.25. The stock should discover initial support at its 50-day moving average (MA) of $159.20 and subsequent support at its 200-day MA of $157.72.

Cracker Barrel share prices have moved between a 52-week high of $184.93 and a 52-week low of $141.63 and closed yesterday at 28% above that low price at $181.13 per share. The 200-day and 50-day moving averages have moved 0.12% higher and 1.21% higher over the past week, respectively.

Cracker Barrel Old Country Store, Inc. operates restaurants. The Company serves various breakfast, lunch, and dinner dishes such as pancakes, sandwiches, fried chicken, and ice cream. Cracker Barrel Old Country Store serves customers throughout the United States.

SmarTrend is tracking the current trend status for Cracker Barrel and will alert subscribers who have CBRL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle cracker barrel

Ticker(s): CBRL