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Possible Bullish Inside Day Candle Pattern Detected for Brinker International (NYSE:EAT)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Brinker International (NYSE:EAT) based on the price action in the company's shares. Yesterday's price range of $47.67 and $48.04 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 Brinker International may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Brinker International has overhead space with shares priced $47.86, or 13.4% below the average consensus analyst price target of $55.25. Brinker International shares should encounter resistance at the 200-day moving average (MA) of $49.24 and support at the 50-day MA of $47.07.

Brinker International, Inc. is a restaurant operator who owns, operates or franchises establishments in the United States and internationally. These restaurants offer customers burgers, ribs, salads, steaks, classic Italian fare, and Tex-Mex offerings.

Brinker International share prices have moved between a 52-week high of $60.34 and a 52-week low of $43.20 and closed yesterday at 11% above that low price at $47.86 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 0.4%.

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

Keywords: bullish am inside day candle Brinker International

Ticker(s): EAT