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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. Today's price range of $14.46 and $14.52 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 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 $26.95 and are now at $14.51, which is 9% above that low price. The 200-day and 50-day moving averages have moved 0.58% lower and 0.48% lower over the past week, respectively.

There is potential upside of 34.4% for shares of Guess? Inc based on a current price of $14.51 and an average consensus analyst price target of $19.50. The stock should run into initial resistance at its 50-day moving average (MA) of $15.68 and subsequent resistance at its 200-day MA of $19.09.

Guess?, Inc. designs, markets, distributes, and licenses lifestyle collections of apparel and accessories for men, women, and children. It operates through five segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing.

SmarTrend is monitoring the recent change of momentum in Guess? Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Guess? Inc in search of a potential trend change.

Keywords: bearish inside day candle guess? inc

Ticker(s): GES