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Possible Bullish Inside Day Candle Pattern Detected for Carter'S Inc (:CRI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Carter'S Inc (:CRI) based on the price action in the company's shares. Yesterday's price range of $106.25 and $108.68 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 Carter'S 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.

Carter's, Inc. markets baby and young children's apparel in the United States. The Company's brands are sold to national department stores, chain and specialty stores, discount retailers, and its own retail stores.

Carter'S Inc share prices have moved between a 52-week high of $112.46 and a 52-week low of $81.54 and closed yesterday at 32% above that low price at $108.04 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

Potential upside of 14.2% exists for Carter'S Inc, based on a current level of $108.04 and analysts' average consensus price target of $123.33. Carter'S Inc shares have support at the 50-day moving average (MA) of $106.62 and additional support at the 200-day MA of $97.84.

SmarTrend is tracking the current trend status for Carter'S Inc and will alert subscribers who have CRI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle :cri carter's inc

Ticker(s): CRI