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Possible Bearish Inside Day Candle Pattern Detected for Oxford Inds Inc (NYSE:OXM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Oxford Inds Inc (NYSE:OXM) based on the price action in the company's shares. Yesterday's price range of $82.72 and $83.74 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 Oxford Inds Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Oxford Industries, Inc. operates as an international apparel design, sourcing, and marketing company. The Company distribute its lifestyle branded products through a variety of upscale department and specialty stores, as well as its owned retail stores and e-commerce websites.

Potential upside of 8.7% exists for Oxford Inds Inc, based on a current level of $82.82 and analysts' average consensus price target of $90.00. The stock should find initial support at its 200-day moving average (MA) of $82.68 and further support at its 50-day MA of $78.16.

In the past 52 weeks, shares of Oxford Inds Inc have traded between a low of $63.50 and a high of $97.19 and closed yesterday at $82.82, which is 30% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

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

Keywords: bearish am inside day candle oxford inds inc

Ticker(s): OXM