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Possible Bearish Inside Day Candle Pattern Detected for Guess? Inc (NYSE:GES)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Guess? Inc (NYSE:GES) based on the price action in the company's shares. Yesterday's price range of $22.48 and $22.84 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 Guess? Inc 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, shares of Guess? Inc have traded between a low of $13.34 and a high of $23.58 and closed yesterday at $22.67, which is 70% above that low price. The 200-day and 50-day moving averages have moved 0.41% higher and 1.17% higher over the past week, respectively.

Guess?, Inc. designs, markets, distributes, and licenses a collection of casual apparel, accessories, and related consumer products. The Company's apparel for men, women, and girls are marketed under branded names. Guess? provides full collections of denim and cotton clothing and has granted licenses to manufacture complementary products.

Guess? Inc (NYSE:GES) is currently priced 14.0% above its average consensus analyst price target of $19.50. Guess? Inc shares have support at the 50-day moving average (MA) of $21.68 and additional support at the 200-day MA of $18.16.

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

Keywords: bearish am inside day candle guess? inc

Ticker(s): GES