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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 $224.20 and $230.25 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.

Based on a current price of $227.00, Domino'S Pizza is currently 6.3% above its average consensus analyst price target of $212.76. Domino'S Pizza shares have support at the 50-day moving average (MA) of $132.06 and additional support at the 200-day MA of $114.71.

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.

Over the past year, Domino'S Pizza has traded in a range of $120.97 to $236.00 and closed yesterday at $227.00, 88% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

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

Keywords: bearish am inside day candle domino's pizza

Ticker(s): DPZ