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Possible Bullish Inside Day Candle Pattern Detected for The Buckle Inc (NYSE:BKE)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in The Buckle Inc (NYSE:BKE) based on the price action in the company's shares. Yesterday's price range of $13.75 and $14.55 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 The Buckle Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

The Buckle, Inc. retails casual apparel for young men and women. The Company offers casual apparel, footwear, and accessories, including denims, tops, sportswear, outerwear, and shoes. The Buckle operates throughout the United States.

There is potential upside of 18.9% for shares of The Buckle Inc based on a current price of $14.30 and an average consensus analyst price target of $17.00. The Buckle Inc shares should first meet resistance at the 50-day moving average (MA) of $31.42 and find additional resistance at the 200-day MA of $33.94.

In the past 52 weeks, shares of The Buckle Inc have traded between a low of $13.72 and a high of $28.67 and closed yesterday at $14.30, which is 4% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of The Buckle Inc on May 16th, 2017 by issuing a Downtrend alert when the shares were trading at $17.60. Since that call, shares of The Buckle Inc have fallen 22.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle the buckle inc

Ticker(s): BKE