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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 $144.28 and $144.64 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, shares of Dollar General C have traded between a low of $96.37 and a high of $145.06 and are now at $144.64, which is 50% above that low price. The 200-day and 50-day moving averages have moved 0.44% higher and 0.89% higher over the past week, respectively.

Dollar General C (NYSE:DG) is currently priced 26.0% above its average consensus analyst price target of $107.10. The stock should find initial support at its 50-day moving average (MA) of $131.33 and further support at its 200-day MA of $118.34.

SmarTrend recommended that subscribers consider buying shares of Dollar General C on May 30th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $125.42. Since that recommendation, shares of Dollar General C have risen 15.6%. We continue to monitor DG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle dollar general c

Ticker(s): DG