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Possible Bullish Inside Day Candle Pattern Detected for Carter's (NYSE:CRI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Carter's (NYSE:CRI) based on the price action in the company's shares. Yesterday's price range of $108.18 and $109.06 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 may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Based on a current price of $108.85, Carter's is currently 2.9% above its average consensus analyst price target of $105.71. Carter's shares have support at the 50-day moving average (MA) of $103.22 and additional support at the 200-day MA of $95.41.

Carter's, Inc. markets baby and young children's apparel in the United States. The Company's products are offered in department stores and Carter's retail stores. Carter's sells products under the Tykes brand in Target stores and under its Child of Mine brand in Wal-Mart stores.

In the past 52 weeks, Carter's share prices have been bracketed by a low of $82.22 and a high of $110.66 and closed yesterday at $108.85, 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Carter's on June 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $105.32. Since that recommendation, shares of Carter's have risen 3.4%. We continue to monitor CRI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle carter's

Ticker(s): CRI