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Possible Bearish Inside Day Candle Pattern Detected for Dollar General C (NYSE:DG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dollar General C (NYSE:DG) based on the price action in the company's shares. Today's price range of $119.79 and $120.05 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 Dollar General C may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Dollar General Corporation operates a chain of discount retail stores located primarily in the southern, southwestern, midwestern, and eastern United States. The Company offer a broad selection of merchandise, including consumable products such as food, paper and cleaning products, health, beauty, pet supplies, and non-consumable products such as seasonal merchandise.

In the past 52 weeks, Dollar General C share prices have been bracketed by a low of $86.87 and a high of $126.84 and are now at $120.05, 38% above that low price. The 200-day and 50-day moving averages have moved 0.36% higher and 0.07% lower over the past week, respectively.

Dollar General C (NYSE:DG) defies analysts with a current price ($120.05) 10.8% above its average consensus price target of $107.10. Dollar General C shares should encounter resistance at the 50-day moving average (MA) of $120.88 and support at its 200-day MA of $112.65.

SmarTrend is monitoring the recent change of momentum in Dollar General C. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Dollar General C in search of a potential trend change.

Keywords: bearish inside day candle dollar general c

Ticker(s): DG