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Possible Bullish Inside Day Candle Pattern Detected for Carrols Restaura (NASDAQ:TAST)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Carrols Restaura (NASDAQ:TAST) based on the price action in the company's shares. Yesterday's price range of $10.00 and $10.07 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 Carrols Restaura may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Carrols Restaura share prices have moved between a 52-week high of $16.40 and a 52-week low of $8.42 and closed yesterday at 19% above that low price at $10.02 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

Carrols Restaura (NASDAQ:TAST) has potential upside of 58.4% based on a current price of $10.02 and analysts' consensus price target of $15.88. Carrols Restaura shares should encounter resistance at the 200-day moving average (MA) of $12.52 and support at the 50-day MA of $9.73.

Carrols Restaurant Group, Inc., through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of July 1, 2018, it owned and operated 807 BURGER KING restaurants.

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

Keywords: bullish am inside day candle carrols restaura

Ticker(s): TAST