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Possible Bearish Inside Day Candle Pattern Detected for Domino's Pizza (NYSE:DPZ)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Domino's Pizza (NYSE:DPZ) based on the price action in the company's shares. Yesterday's price range of $121.23 and $123.07 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 Domino's Pizza may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Domino's Pizza, Inc. operates a network of Company-owned and franchise Domino's Pizza stores, located throughout the United States and in other countries. The Company also operates regional dough manufacturing and distribution centers in the contiguous United States and outside the United States.

Based on a current price of $122.21, Domino's Pizza is currently 2.5% above its average consensus analyst price target of $119.17. The stock should find resistance at its 50-day moving average (MA) of $132.06, as well as support at its 200-day MA of $114.71.

Over the past year, Domino's Pizza has traded in a range of $99.00 to $140.80 and closed yesterday at $122.21, 23% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

SmarTrend is tracking the current trend status for Domino's Pizza and will alert subscribers who have DPZ in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle domino's pizza

Ticker(s): DPZ