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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 $206.65 and $207.72 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 $207.05, Domino's Pizza is currently 13.4% above its average consensus analyst 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 share prices have moved between a 52-week high of $208.30 and a 52-week low of $99.00 and closed yesterday at 109% above that low price at $207.05 per share. 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 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 9.6%. We continue to monitor DPZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle domino's pizza

Ticker(s): DPZ