• Return to Headlines

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

By Nick Russo

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. Yesterday's price range of $103.27 and $104.45 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 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, shares of Dollar General C have traded between a low of $70.30 and a high of $105.82 and closed yesterday at $104.13, which is 48% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.8%.

Dollar General C has overhead space with shares priced $104.13, or 2.8% below the average consensus analyst price target of $107.10. Dollar General C shares have support at the 50-day moving average (MA) of $98.78 and additional support at the 200-day MA of $94.85.

SmarTrend recommended that subscribers consider buying shares of Dollar General C on June 13th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $96.81. Since that recommendation, shares of Dollar General C have risen 8.6%. We continue to monitor DG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle dollar general c

Ticker(s): DG