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

By Amy Schwartz

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 $2.98 and $2.99 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.

Dean Foods Co has overhead space with shares priced $2.98, or 69.0% below the average consensus analyst price target of $9.62. The stock should find initial resistance at its 50-day moving average (MA) of $4.16 and further resistance at its 200-day MA of $6.82.

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, Dean Foods Co share prices have been bracketed by a low of $2.73 and a high of $11.14 and are now at $2.98, 9% above that low price. The 200-day and 50-day moving averages have moved 1.48% lower and 1.87% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Dean Foods Co on March 4th, 2019 by issuing a Downtrend alert when the shares were trading at $3.74. Since that call, shares of Dean Foods Co have fallen 18.6%. 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