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Possible Bearish Inside Day Candle Pattern Detected for NutriSystem (NASDAQ:NTRI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in NutriSystem (NASDAQ:NTRI) based on the price action in the company's shares. Today's price range of $51.05 and $52.20 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 NutriSystem may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

NutriSystem (NASDAQ:NTRI) is currently priced 2.1% above its average consensus analyst price target of $50.29. The stock should find initial support at its 200-day moving average (MA) of $23.26 and further support at its 50-day MA of $20.76.

Over the past year, NutriSystem has traded in a range of $17.25 to $57.50 and is now at $51.35, 198% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.2%.

NutriSystem, Inc. operates an online weight loss community. The Company's Web site provides members with a weight management program that incorporates personal online counseling, individual diet and exercise plans, as well as other information. NutriSystem also markets the NutriSystem Sweet Success brand of diet meal replacement products through retail outlets.

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

Keywords: bearish inside day candle nutrisystem

Ticker(s): NTRI