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Possible Bullish Inside Day Candle Pattern Detected for Boot Barn Holdin (NYSE:BOOT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Boot Barn Holdin (NYSE:BOOT) based on the price action in the company's shares. Yesterday's price range of $29.20 and $29.47 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. Traders and investors interested in shares of Boot Barn Holdin may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Boot Barn Holdings, Inc. sells western and work gear for individuals and families. The Company sells boots, jeans, shirts, hats, belts, jewelry, and other products. Boot Barn operates throughout the United States.

Based on a current price of $29.38, Boot Barn Holdin is currently 8.1% above its average consensus analyst price target of $27.00. The stock should find initial support at its 50-day moving average (MA) of $28.67 and further support at its 200-day MA of $25.34.

In the past 52 weeks, Boot Barn Holdin share prices have been bracketed by a low of $15.01 and a high of $32.21 and closed yesterday at $29.38, 96% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

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

Keywords: bullish am inside day candle boot barn holdin

Ticker(s): BOOT