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Possible Bearish Inside Day Candle Pattern Detected for Dunkin' Brands G (NASDAQ:DNKN)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Dunkin' Brands G (NASDAQ:DNKN) based on the price action in the company's shares. Today's price range of $52.72 and $53.38 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 Dunkin' Brands G may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 7.6% exists for Dunkin' Brands G, based on a current level of $52.80 and analysts' average consensus price target of $56.83. The stock should find initial support at its 50-day moving average (MA) of $47.12 and further support at its 200-day MA of $45.20.

Dunkin' Brands Group Inc. franchises quick service restaurants (""QSRs"") serving hot and cold coffee and baked goods, as well as ice cream. The Company operates primarily in the breakfast part of the day within the QSR segment of the restaurant industry. Dunkin' Brands Group operates worldwide.

Over the past year, Dunkin' Brands G has traded in a range of $41.29 to $59.70 and is now at $52.80, 28% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Dunkin' Brands G on June 21st, 2017 by issuing a Downtrend alert when the shares were trading at $55.65. Since that call, shares of Dunkin' Brands G have fallen 3.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle dunkin' brands g

Ticker(s): DNKN