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Possible Bearish Inside Day Candle Pattern Detected for Dean Foods Co (NYSE:DF)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dean Foods Co (NYSE:DF) based on the price action in the company's shares. Today's price range of $7.51 and $7.62 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 Dean Foods Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 28.1% exists for Dean Foods Co, based on a current level of $7.51 and analysts' average consensus price target of $9.62. The stock should run into initial resistance at its 50-day moving average (MA) of $8.83 and subsequent resistance at its 200-day MA of $9.67.

Dean Foods Company is a food and beverage company. The Company provides products such as milk and milk based beverages, ice cream, whipping cream, sour cream, cottage cheese, yogurt, dips, and soy milk. Dean Foods also supplies pickles, juice, juice drinks, and water in the State of Texas.

In the past 52 weeks, shares of Dean Foods Co have traded between a low of $7.32 and a high of $12.09 and are now at $7.51, which is 3% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 2.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Dean Foods Co on August 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $9.52. Since that call, shares of Dean Foods Co have fallen 19.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle dean foods co

Ticker(s): DF