• Return to Headlines

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

By James Quinn

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. Today's price range of $206.68 and $207.66 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 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.

In the past 52 weeks, Domino's Pizza share prices have been bracketed by a low of $99.00 and a high of $208.30 and are now at $206.75, 109% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Domino's Pizza (NYSE:DPZ) defies analysts with a current price ($206.75) 13.3% above its average consensus price target of $179.33. The stock should find initial support at its 50-day moving average (MA) of $132.06 and further support at its 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.

SmarTrend recommended that subscribers consider buying shares of Domino's Pizza on May 4th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $188.96. Since that recommendation, shares of Domino's Pizza have risen 10.1%. We continue to monitor DPZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle domino's pizza

Ticker(s): DPZ