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Possible Bearish Inside Day Candle Pattern Detected for Dillards Inc-A (NYSE:DDS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dillards Inc-A (NYSE:DDS) based on the price action in the company's shares. Yesterday's price range of $58.41 and $59.85 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 Dillards Inc-A 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 $59.20, Dillards Inc-A is currently 21.3% above its average consensus analyst price target of $46.60. The stock should run into initial resistance at its 50-day moving average (MA) of $79.19 and subsequent resistance at its 200-day MA of $81.48.

Dillard's, Inc. operates retail department stores located primarily in the southwestern, southeastern, and midwestern United States. The Company offers name-brand and private-label merchandise, including fashion apparel and home furnishings.

Dillards Inc-A share prices have moved between a 52-week high of $77.70 and a 52-week low of $45.51 and closed yesterday at 30% above that low price at $59.20 per share. The 200-day and 50-day moving averages have moved 0.84% lower and 0.62% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Dillards Inc-A on May 30th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $51.68. Since that recommendation, shares of Dillards Inc-A have risen 14.6%. We continue to monitor DDS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle dillards inc-a

Ticker(s): DDS