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Possible Bearish Inside Day Candle Pattern Detected for Foot Locker Inc (NYSE:FL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Foot Locker Inc (NYSE:FL) based on the price action in the company's shares. Yesterday's price range of $40.26 and $41.08 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 Foot Locker Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 25.7% for shares of Foot Locker Inc based on a current price of $40.96 and an average consensus analyst price target of $51.50. The stock should hit resistance at its 200-day moving average (MA) of $42.42, as well as support at its 50-day MA of $39.35.

Foot Locker, Inc. retails footwear. The Company offers athletics footware, apparel, and equipment for men, women, and kids. Foot Locker serves customers worldwide.

In the past 52 weeks, shares of Foot Locker Inc have traded between a low of $33.12 and a high of $68.00 and closed yesterday at $40.96, which is 24% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 1%.

SmarTrend is tracking the current trend status for Foot Locker Inc and will alert subscribers who have FL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle foot locker inc

Ticker(s): FL