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Possible Bearish Inside Day Candle Pattern Detected for Ralph Lauren Cor (NYSE:RL)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ralph Lauren Cor (NYSE:RL) based on the price action in the company's shares. Today's price range of $116.54 and $117.64 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 Ralph Lauren Cor may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $117.64, Ralph Lauren Cor is currently 4.4% above its average consensus analyst price target of $112.44. Ralph Lauren Cor shares should first meet resistance at the 50-day moving average (MA) of $119.26 and find additional resistance at the 200-day MA of $120.42.

Ralph Lauren Cor share prices have moved between a 52-week high of $147.79 and a 52-week low of $95.63 and are now trading 23% above that low price at $117.64 per share. The 200-day and 50-day moving averages have moved 0.34% lower and 0.93% lower over the past week, respectively.

Ralph Lauren Corporation designs, markets, and distributes men's, women's and children's apparel, accessories, fragrances, and home furnishings. The Company's products are sold under a wide range of brands. Ralph Lauren's operations include wholesale, retail, and licensing.

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

Keywords: bearish inside day candle ralph lauren cor

Ticker(s): RL