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Possible Bearish Inside Day Candle Pattern Detected for Dollar Tree Inc (NASDAQ:DLTR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dollar Tree Inc (NASDAQ:DLTR) based on the price action in the company's shares. Yesterday's price range of $112.40 and $113.14 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 Tree Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Dollar Tree Inc share prices have moved between a 52-week high of $118.10 and a 52-week low of $78.78 and closed yesterday at 43% above that low price at $112.85 per share. The 200-day and 50-day moving averages have moved 0.26% higher and 0.91% higher over the past week, respectively.

Dollar Tree, Inc. operates a discount variety store chain in the United States. The Company sells an assortment of everyday general merchandise at the $1.00 price point.

Dollar Tree Inc (NASDAQ:DLTR) is currently priced 1.3% above its average consensus analyst price target of $111.33. Dollar Tree Inc shares have support at the 50-day moving average (MA) of $111.97 and additional support at the 200-day MA of $104.83.

SmarTrend is tracking the current trend status for Dollar Tree Inc and will alert subscribers who have DLTR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle dollar tree inc

Ticker(s): DLTR