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Possible Bullish Inside Day Candle Pattern Detected for Chico's FAS (NYSE:CHS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Chico's FAS (NYSE:CHS) based on the price action in the company's shares. Today's price range of $11.59 and $11.71 is within yesterday'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 Chico's FAS may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Chico's FAS (NYSE:CHS) has potential upside of 26.0% based on a current price of $11.67 and analysts' consensus price target of $14.70. Chico's FAS shares should first meet resistance at the 50-day moving average (MA) of $12.70 and find additional resistance at the 200-day MA of $13.01.

Chico's FAS share prices have moved between a 52-week high of $17.50 and a 52-week low of $9.61 and are now trading 21% above that low price at $11.67 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.5%.

Chico's FAS, Inc. sells private label women's casual clothing and related accessories. The Company's clothing includes tops, pants, shorts, skirts, and dresses. Chico's owns and operates stores throughout the United States.

SmarTrend is tracking the current trend status for Chico's FAS and will alert subscribers who have CHS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle chico's fas

Ticker(s): CHS