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Possible Bearish Inside Day Candle Pattern Detected for Dick'S Sporting (NYSE:DKS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dick'S Sporting (NYSE:DKS) based on the price action in the company's shares. Today's price range of $34.94 and $35.42 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 Dick'S Sporting may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Dick'S Sporting (NYSE:DKS) is currently priced 2.5% above its average consensus analyst price target of $34.50. The stock should discover initial support at its 50-day moving average (MA) of $34.66 and subsequent support at its 200-day MA of $31.61.

Dick's Sporting Goods, Inc. is a sporting goods retailer that operates stores primarily in the eastern and central United States. The Company's stores offer a broad selection of brand name sporting goods equipment, apparel, and footwear.

In the past 52 weeks, shares of Dick'S Sporting have traded between a low of $23.88 and a high of $38.99 and are now at $35.39, which is 48% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.5%.

SmarTrend is tracking the current trend status for Dick'S Sporting and will alert subscribers who have DKS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle dick's sporting

Ticker(s): DKS