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Possible Bearish Inside Day Candle Pattern Detected for Vf Corp (NYSE:VFC)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Vf Corp (NYSE:VFC) based on the price action in the company's shares. Today's price range of $79.35 and $79.95 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 Vf Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 4.3% exists for Vf Corp, based on a current level of $79.86 and analysts' average consensus price target of $83.28. The stock should find initial support at its 200-day moving average (MA) of $66.24 and further support at its 50-day MA of $64.65.

In the past 52 weeks, shares of Vf Corp have traded between a low of $48.05 and a high of $84.38 and are now at $79.86, which is 66% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.3%.

VF Corporation is an international apparel company. The Company owns a broad portfolio of brands in the jeanswear, outerwear, packs, footwear, sportswear, and occupational apparel categories. VF products are marketed to consumers shopping in specialty stores, upscale, traditional department stores, national chains, and mass merchants.

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

Keywords: bearish inside day candle vf corp

Ticker(s): VFC