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Possible Bearish Inside Day Candle Pattern Detected for Papa John'S Intl (:PZZA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Papa John'S Intl (:PZZA) based on the price action in the company's shares. Yesterday's price range of $60.95 and $61.92 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 Papa John'S Intl 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, Papa John'S Intl share prices have been bracketed by a low of $38.29 and a high of $64.06 and closed yesterday at $61.00, 59% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.6%.

Papa John's International, Inc. operates and franchises pizza delivery and carry-out restaurants under the Papa John's trademark. The Company operates restaurants in the United States and international markets.

Papa John'S Intl has overhead space with shares priced $61.00, or 2.4% below the average consensus analyst price target of $62.50. Papa John'S Intl shares have support at the 50-day moving average (MA) of $59.04 and additional support at the 200-day MA of $50.84.

SmarTrend recommended that subscribers consider buying shares of Papa John'S Intl on August 27th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.87. Since that recommendation, shares of Papa John'S Intl have risen 32.3%. We continue to monitor PZZA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle :pzza papa john's intl

Ticker(s): PZZA