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

By David Diaz

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. Today's price range of $55.26 and $55.99 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 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.

Foot Locker Inc (NYSE:FL) is currently priced 7.1% above its average consensus analyst price target of $51.50. Foot Locker Inc shares should encounter resistance at the 50-day moving average (MA) of $59.13 and support at its 200-day MA of $53.95.

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

Foot Locker Inc share prices have moved between a 52-week high of $68.00 and a 52-week low of $43.70 and are now trading 27% above that low price at $55.44 per share. The 200-day and 50-day moving averages have moved 0.21% higher and 0.52% lower over the past week, respectively.

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.